BA profits flying high at £415m

British Airways today announced pre-tax profits of £415m (€609m) for its last financial year, a sharp rise on the £230m (€337m) a year earlier.

Rod Eddington, who is due to step down as chief executive later this year, said the performance reflected ongoing cost controls and strong demand.

Despite the figures, which were ahead of many analysts’ expectations, BA said it was braced for a huge rise in fuel costs in the current year.

The fuel cost hike is higher than the £300m (€440m) previously forecast, although BA has offset some of the increase by raising fuel surcharges.