9th Mar 2006 08:30
British Airways PLC09 March 2006 BRITISH AIRWAYS' INVESTOR DAY At its annual Investor Day today (March 9, 2006) British Airways forecast itsfuel costs for the year to March 2006 are now expected to be £505 - £515 millionhigher than the previous year. Net debt at March 2006 is expected to fall below£2 billion. For 2006/7, revenue is forecast to increase by 4-5 per cent driven by increasedcapacity and seat factors. Fuel is forecast to be up by some £400 million for 2006/7. Total costs,excluding fuel are forecast to be flat. Over two years to March 2008, cost efficiencies of £450 million are targeted. This will leave the company on track to deliver a 10 per cent operating marginin the year to March 2008 assuming fuel prices and external environment arestable. A webcast of British Airways' Investor Day can be accessed via the internetwww.bashares.com - on Thursday, March 9 at 8.30am and a recorded version will beavailable after the event Certain information included in these statements is forward-looking and involvesrisks and uncertainties that could cause actual results to differ materiallyfrom those expressed or implied by the forward looking statements. Forward-looking statements include, without limitation, projections relating toresults of operations and financial conditions and the company's plans andobjectives for future operations, including, without limitation, discussions ofthe company's Business Plan programmes, expected future revenues, financingplans and expected expenditures and divestments. All forward-looking statementsin this report are based upon information known to the company on the date ofthis report. The company undertakes no obligation to publicly update or reviseany forward-looking statement, whether as a result of new information, futureevents or otherwise. It is not reasonably possible to itemise all of the many factors and specificevents that could cause the company's forward looking statements to be incorrector that could otherwise have a material adverse effect on the future operationsor results of an airline operating in the global economy. Information on somefactors which could result in material difference to the results is available inthe company's SEC filings, including, without limitation the company's Report onForm 20-F for the year ended March 2005. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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