United Kingdom
United States
Asia Pacific
Profits take off for Bmi
The Bmi group has posted pre-tax profits of £2.1 million for 2004, up from a loss of £9.8 million the previous year.
The airline group has credited its positive performance to tight cost control following the implementation of the “Blue Sky” cost cutting programme aimed at reducing operating costs by £100 million over three years.
One initiative is to operate a single type fleet across the group.
Group turnover increased 7.5% in 2004 to £830 million and the airline carried 10.5 million passengers last year, up 11% year-on-year, enjoying load factors of 70% – up from 67% in 2003.
Bmi also reduced debt by £59million to £122million.
In a statement Bmi said: “The return to profit confirms that Bmi has incurred only two years of pre tax losses during the past 11 years and that as forecast, the group continues its improved financial performance.”
According to the airline, routes out of Heathrow remain competitive and the airline has seen a drop in business class traffic out of the airport.
Consequently a review of operations at Heathrow is being carried out.
Bmibaby boosted the group’s results with an increase in passenger carryings by 16% to 3.2 million, and load factors up from 71% to 78%.
Chairman Sir Michael Bishop said: “The Bmi group is well placed to meet the future challenges as our 2004 results demonstrate. 2005 has started well and providing market conditions remain stable I am confident of a further improvement in the group’s results in the current year.”
Report by Ginny McGrath
Ginny McGrath
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
San Antonio on the Rise: David Gonzalez Talks Travel, Culture, and Growth
Anna Marie Presutti on San Francisco’s Tourism Revival and Global Outlook
Exploring Brooklands Museum with Alex Patterson
Global Tourism Challenges and Upcoming Events: A Conversation with Don Welsh
Peebles Barbeque: A Legacy of Flavor and Tradition
Exploring Bok Tower Gardens with Erica Smith
Rue’s Living Water Boat Cruises: Exploring Winter Haven’s Chain of Lakes
Durango and Silverton Railroad: A Timeless Journey Through History and Scenic Beauty
Walt Leger on New Orleans’ Resilience and Major Events Ahead
Royal Caribbean issues Legionnaires’ disease warning
CLIA expands trade support with expedition event
Smarter Reservations: AI, Customer Experience, and Dylan Ratigan’s Master Plan
Qatar Airways adding Manchester flights
HotelPlanner partners with London Design Biennale