BA assets cut by new accounting rules
British Airways has seen its net assets fall by almost 50% because of new accounting rules.
The switch to International Financial Reporting Standards boosted profits to £556 million but net assets to the year ending March 31 fell from £2.68 billion to £1.4 billion. The drop was mainly due to the inclusion of its pension deficit, The Guardian reported.
According to the Financial Times, the airline is now unlikely to pay a dividend for the year ending next March.
“The impacts of new accounting rules on our income statement are minor. However there will be a significant impact on our balance sheet,” said chief financial officer John Rishton.
Report by Steve Jones
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.































Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025