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BA posts better-than-expected results

BA posts better-than-expected results
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British Airways shares have risen in stock market trading today (February 5th), after posting better-than-expected financial results for the third quarter.

The airline has revealed a profit of £25 million for the three months to December 31st, a substantial improvement on the £51 million loss it made 12 months previously.

And the result was ahead of that expected by analysts, with Reuters reporting that the firm was forecast to make a loss of between £90 and £100 million over the quarter.

The news helped the company's stock to climb by over two per cent this morning, rising to 215.9p at 08:30 GMT in London.

Willie Walsh, chief executive, said that operating cost reductions were partially responsible for improved performance.

However, in the nine months to the end of the year BA recorded a pre-tax loss of £342 million and Mr Walsh added: "While we are on the right track, we still expect to make record losses this year."

Posted by Clive ArneilADNFCR-1681-ID-19600486-ADNFCR