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| British Airways profits plummet | British Airways profits plummet |
| (10 minutes later) | |
| Half-year profits at British Airways have fallen 91.6%, with the airline blaming "incredibly difficult trading conditions" for the plunge. | Half-year profits at British Airways have fallen 91.6%, with the airline blaming "incredibly difficult trading conditions" for the plunge. |
| BA said pre-tax profit totalled £52m ($81.6m) between April and September, down from £616m a year earlier. | |
| Willie Walsh, BA's chief executive, said the period would "be remembered as one of the bleakest on record". | Willie Walsh, BA's chief executive, said the period would "be remembered as one of the bleakest on record". |
| Airlines have been hurt by record fuel prices and the economic downturn is hitting passenger numbers. | |
| "The industry continues to face very difficult trading conditions on the back of a weak economic environment," Mr Walsh said. | |
| However, he was confident that the airline would be able to make a "small profit" for the financial year. | |
| BA said that its fuel costs were 52% higher than a year ago, although it said it was well placed to benefit from the current fall in fuel prices. | |
| However, it added that hedging and a weaker pound would offset lower prices to some extent. | |
| Mr Walsh said that Heathrow Terminal 5 was now running smoothly after a disastrous opening earlier this year. |