BRITISH Airways chief executive Rod Eddington
described the past year as “one of the toughest in living memory” as
he reported a full-year £135 million pre-tax profit.
He said: “Despite the war and SARS,
our people have made a tremendous contribution in delivering all of our first
year Future Size and Shape targets.”
The profit would have been
significantly better had it not recorded a fourth quarter pre-tax loss of £200
million. It also admitted to a £1.2 billion deficit in its pension fund.