British Airways’ 1st quarter profit up 75%, matches fines

British Airways’ 1st quarter profit up 75%, matches fines

Related Stories •   U.K. fines British Airways '121.5 million for price-fixing •   BA, Korean Air admit to U.S. price-fixing; each to each pay $300 million >•   BA World Cargo invests more than $1 billion in freighter fleet

   Licking its wounds after receiving about $550 million in fines from British and U.S authorities for its part in a price-fixing conspiracy, British Airways today reported a 74.7 percent jump in its fiscal first quarter period ended June 30, to '269 million ($549 million).
   BA’s first quarter operating profit was up 27.7 percent to '263 million ($537 million) with revenues down 2.4 percent to '2.19 billion ($4.47 billion).
   The airline’s cargo revenue for the quarter decreased 11.5 percent to '146 million ($298 million).