3rd Jun 2005 14:15
British Airways PLC03 June 2005 TRAFFIC AND CAPACITY STATISTICS - May 2005 Summary of the headline figures In May 2005, passenger capacity, measured in Available Seat Kilometres, was 1.0per cent above May 2004. Traffic, measured in Revenue Passenger Kilometres, washigher by 3.2 per cent. This resulted in a passenger load factor up 1.6 pointsversus last year, to 73.2 per cent. The increase in traffic comprised a 4.2 percent increase in premium traffic and a 3.0 per cent increase in non-premiumtraffic. Cargo, measured in Cargo Tonne Kilometres, fell by 7.5 per cent.Overall load factor fell by 0.2 points to 67.7 per cent. Market conditions Market conditions remain broadly unchanged. For the year to March 2006, totalrevenue is expected to improve by 4 - 5 per cent. Strategic Developments British Airways reported a pre-tax profit of £415 million for the year (2004:£230 million profit) including a pre-tax profit of £5 million for the fourthquarter (2004: £45 million profit). Operating profit for the year was £540million (2004: £405 million profit) and £40 million for the fourth quarter(2004: £32 million profit). Net debt at £2.9 billion fell by £1.2 billion duringthe year, its lowest level since 1993. Seat factors were at record levels, butyield, down 4.4 per cent for the year, was down for the third year running. Theairline achieved a 6.9 per cent operating margin, its best since 1997. British Airways announced changes to its board of directors subject toshareholder approval at the AGM on July 19, 2005. Dr Ashok Ganguly and LordRenwick of Clifton, having served on the board for nine years, will not standfor re-election. Captain Mike Jeffery, who as a former employee of the companycannot be considered as independent under the new Combined Code, will not standfor re-election. The company also announced that Mike Street OBE, director ofcustomer service and operations, is to retire in September, 2005. British Airways' commercial director, Martin George, is being recommended by theboard for election by shareholders at the annual general meeting in July as adirector. The Right Honourable the Baroness Symons of Vernham Dean and Ken SmartCBE are also being recommended by the board to serve as non-executive directorsof the company. Baroness Symons was Minister of State at the Foreign Office andDeputy Leader of the House of Lords until May 2005. Prior to being made a lifepeer in 1996, she was general secretary of the Association of First DivisionCivil Servants. Ken Smart, who is to succeed Mike Jeffery as chairman of theairline's safety review committee, was the UK's Chief Inspector of Air Accidentsand Head of the Department for Transport's Air Accidents Investigation Branch(AAIB) until he retired in April 2005. Thousands of British Airways' flights went on sale in May with savings of up to£326 to over 60 destinations worldwide for travel in May, June, July and August.Prices started from £299 for a return flight to New York (saving £164), £369 toLos Angeles (saving £154) and £399 to Hong Kong (saving £114). British Airways won two awards at the 2005 OAG awards ceremony in London basedon votes polled by a worldwide audience of business travellers. They were theBest Airline Based in Western Europe and Best Transatlantic Airline awards. British Airways received an award in recognition of its corporate responsibilityactivity in the London borough of Hillingdon. The airline supports many projectsin the local community, particularly in the five boroughs that surroundHeathrow. ends BRITISH AIRWAYS MONTHLY TRAFFIC AND CAPACITY STATISTICS Month of May Financial year April through to MayBRITISH AIRWAYS Change ChangeSCHEDULED SERVICES 2005 2004 (%) 2005 2004 (%)Passengers carried (000)UK/Europe 2030 2051 -1.0 3953 4073 -2.9Americas 635 621 +2.3 1258 1253 +0.4Asia Pacific 133 120 +10.1 273 251 +8.7Africa and Middle East 225 228 -1.3 464 473 -1.8Total 3023 3021 +0.1 5947 6049 -1.7 Revenue passenger km (m)UK/Europe 1903 1823 +4.4 3656 3611 +1.2Americas 4247 4170 +1.8 8405 8360 +0.5Asia Pacific 1374 1246 +10.3 2817 2597 +8.5Africa and Middle East 1513 1520 -0.4 3112 3136 -0.8Total 9037 8758 +3.2 17991 17705 +1.6 Available seat km (m)UK/Europe 2796 2655 +5.3 5481 5224 +4.9Americas 5393 5404 -0.2 10648 10627 +0.2Asia Pacific 1994 1906 +4.6 3923 3748 +4.7Africa and Middle East 2160 2260 -4.4 4272 4482 -4.7Total 12344 12226 +1.0 24324 24081 +1.0 Passenger load factor (%)UK/Europe 68.0 68.6 -0.6 pts 66.7 69.1 -2.4 ptsAmericas 78.7 77.2 +1.5 pts 78.9 78.7 +0.2 ptsAsia Pacific 68.9 65.4 +3.5 pts 71.8 69.3 +2.5 ptsAfrica and Middle East 70.0 67.2 +2.8 pts 72.8 70.0 +2.8 ptsTotal 73.2 71.6 +1.6 pts 74.0 73.5 +0.5 pts Revenue tonne km (RTK) (m)Cargo tonne km (CTK) 401 434 -7.5 795 823 -3.4Total RTK 1303 1295 +0.6 2585 2568 +0.7Available tonne km (m) 1925 1907 +0.9 3799 3765 +0.9 Overall load factor (%) 67.7 67.9 -0.2 pts 68.1 68.2 -0.1 pts Certain statements included in this statement may be forward-looking and mayinvolve risks and uncertainties that could cause actual results to differmaterially from 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 and financing plans, expected future revenues andexpenditures and divestments. All forward-looking statements in this report arebased upon information known to the company on the date of this report. Thecompany undertakes no obligation to publicly update or revise anyforward-looking statement, whether as a result of new information, future eventsor 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. Investor Relations Waterside (HCB3) PO Box 365 Harmondsworth UB7 OGB Tel: +44 (0) 20 8738 6947 Fax: +44( 0) 20 8738 9602 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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