p12-13 City Feb12 10/2/10 18:08 Page 13
ttglive.com
city & finance news
BRITISH AIRWAYS.
PUCKER
BA losses hit stock rating
Chris Gray.
and a £3.7bn pensions
BRITISH AIRWAYS deficit, and Standard &
UP!
BB
stocks were down- Poor’s said it was cutting
graded again by BA’s rating because 2009
We’re giving you the chance to
credit rating agen- had created a “significant
win a pair of tickets to see Disney’s
cies after the carrier deterioration” in the
‘The Princess and the Frog’!
last week unveiled airline’s financial profile.
results putting it on It reflected the contin-
course for a second ued difficult trading con-
consecutive year of record losses. ditions, the potential strike by cabin
Standard & Poor’s cut BA’s rating crew and uncertainty over tackling the
to BB, one of the lowest available, pension deficit.
after the airline announced a However, BA chief executive Willie
nine-month pre-tax loss of £342m Walsh said the airline’s financial posi-
– meaning its full-year loss is likely tion remained strong and the airline
to be bigger than last year’s loss had financial reserves totalling £2bn.
of £401m. Walsh said the third-quarter profit
BA reported an operating profit for showed drastic cost-cutting was start-
the three months to the end of Decem- ing to have an impact.
ber of £25m – a turnaround from the Capacity reductions of 6% this year
£51m loss in the same period last year, were also helping performance as
and its first profit since the second load factors had risen by 1.3 percent-
quarter of 2009. age points to 79.2% for the year
But it still has net debt of £2.3bn to date.
BA results
RESULTS FOR NINE MONTHS TO END OF DECEMBER 2009
Operating loss: £86m (2008 operating profit £89m)
Pre-tax loss: of £432m (2008 pre-tax loss of £70m)
Revenue: down 12.9%
Total operating costs: down 10.5%
Don’t you just love us? All you have to do is make an
RESULTS FOR THREE MONTHS TO END OF DECEMBER 2009
ULTIMATE TICKET booking to Walt Disney World Resort
Operating profit: £25m (2008 operating loss of £51m)
in Florida! The first 500 bookings will receive a pair of
Pre-tax loss: of £50m (2008 pre-tax loss of £122m)
cinema tickets to see Disney’s fabulous new, animated film,
‘The Princess and the Frog’.
To help you make those bookings we have a fantastic offer:
LOW DEMAND.
14-Day Ultimate Ticket for the Price of a 7-Day
Finnair reports ¤180m loss
£249 adult £217 child (3-9 yrs)
How to get your tickets: Just email your booking reference to
FINNAIR has reported a 2009 operat- ¤150m had already been achieved. It
us at
disney@attractionworld.com - it couldn’t be easier!
ing loss of ¤180m, more than triple its has also started a marketing drive in
Hop to it and get booking at
loss in the previous year. the UK based on offering the fastest
It blamed the loss on a year in route to the Far East from northern
www.attractionworld.com
which demand and yield plunged due England in one of the newest fleets.
to a fall in domestic sales and over- The carrier’s full-year revenue
capacity on many of its main routes. dropped 18.5% to ¤1.84bn. Operating
Chief executive Mika Vehvilainen, loss was reported as ¤180.2m, more
who took over on February 1, said than triple an operating deficit of
although there were signs of business ¤52.1m in 2008.
traffic recovering, prices were still Fourth-quarter net loss was
under severe pressure. ¤36.6m, narrowed from a ¤45m
The airline has initiated a plan to deficit in the prior-year period, on a
Offer valid for bookings made between 12 January and 12 February 2010.Claim your two free cinema tickets by emailing your
cut ¤200m in annual costs, of which 20.9% dip in revenue to ¤457.7m.
booking reference number to:
disney@attractionworld.com by close of play on 14 February 2010.Min of 2 tickets per booking to apply.
12.02.2010 13
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60