by Beth Williamson October 28th, 2010
Analysts say that Willie Walsh could announce tomorrow the first profit for British Airways in two years.
The predictions come from a panel of analysts at Bloomberg, who say the carrier’s net income could be reported at £158.6 million for the three months leading up to the 30th of September, despite a loss the previous year.
The last time British Airways had posted a profit was in 2008, just before Lehman Brothers Holdings Inc. folded and created a lot of empty seats in its premium classes.
The profit would come despite a difficult year for Walsh and his global carrier, who have dealt with the likes of industry action from cabin crews, EU regulation fines and the closure of airspace as a result of a disruptive Icelandic volcano.
Davy Stockbrokers’ Stephen Furlong agrees with Bloomberg. He rates the carrier’s shares as “outperform” and says that although the company has broken even for much of the year, he wouldn’t be surprised to see a profit amid current momentum and yields.
British Airways is currently the third largest carrier in Europe and is undergoing a merger with Iberia Lineas Aereas de Espana SA, Spain’s largest carrier.