Troublesome times the whole world is going through, where news for further economic turmoil, wars and natural disasters dominate global news on an everyday basis. British Airways fights what it seems to be finally a winning battle proving to be holding its ground strong in the civil aviation market after reporting a 45% rise in annual profits converting to a sum of £883m in the year 2008.
BA boss Willie Walsh perceived the report as an "outstanding" result though still deeply concerned for economic instability and soaring fuel costs. For those of you numbers draw a clearer picture, the airline's bill for the six million tonnes of jet fuel it uses in an average year was £124m higher in 2008 than the previous year, despite significant hedging and a weaker dollar. Regardless the fact BA’s total operating costs were down 0.7% as a result of lower staff costs, Mr. Walsh, in an upright annual bonus refusal seeks to salvage himself and BA’s status for the opening of Heathrow's Terminal 5.
Attempting to improve customer service efficiency and oust ghosts of the past British Airways announced the director of customer services and director of operations would be leaving the company and a new role will emerge incorporating both responsibilities.
Future does look brighter for British Airways, but are the new measures substantial to provide a ground breaking point in the company's strategy?