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British Airways reports spike in profits despite higher oil prices.
Knight Ridder/Tribune Business News, November, 2004
By James Quinn, Daily Mail, London Knight Ridder/Tribune Business News
Nov. 9--Higher fuel bills and a summer of disruption at Heathrow airport failed to stop British Airways flying into profit. The airline giant said profits between July and September more than doubled to 220 million pounds.
But chief executive Rod Eddington admitted that the rising price of oil remains a challenge as he upped fuel costs for the current year by another 20 million pounds. This means BA's fuel costs will now be some 245 million pounds more than last year's 922 million pounds, even though BA has increased its passenger fuel surcharge twice in as many months -- to 20 pounds on a transatlantic return flight.
The levies charged to customers and freight...
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