BA expects annual profit
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British Airways (BA) has said it expects to end the current financial year with a small profit, despite a year marred by soaring jet fuel prices and global economic turmoil. The UK flag-carrier’s General Manager for Asia Pacific, Robbie Baird made the comments at an event to mark BA’s 40th anniversary of services to Abu Dhabi.
“Our fuel bill was US$2 billion last year and is estimated at US$3 billion for this year,” Baird was reported by Gulf News as saying. “We have taken steps to come out of difficult times in good shape. Our hedging of oil is all below US$100 a barrel. For the first half of this (financial) year, our operating profit was GBP140 million (US$215 million) compared with GBP567 million for the corresponding period last year,” he continued.
Baird added BA had hedged about 77% of its fuel.
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