Cost control, strong demand lead BA to solid profits

British Airways reported a net profit of £251 million ($464.2 million) for the financial year ended March 31, a 93.1% increase compared to a net profit of £130 million during the 2003-04 fiscal year. Net debt fell by £1.2 billion to £2.9 billion, its lowest level since 1993, while operating margin improved 1.5 points to 6.9%, the airline's best margin since 1997. "These are good results driven by continued cost control and strong demand for our products. Seat factors are ...