Record profits for British Airways but darker clouds gather

May 16 2008 by Tony McDonough, icNorthWest

British Airways is today reporting a 45% surge in pre-tax profits to a record £883m.

The year to March 31 has seen the carrier face spiralling fuel costs and a crash landing at Heathrow, as well as the Terminal 5 opening fiasco.

But despite the earnings hike there are fears over the firm’s future outlook with oil prices showing no sign of retreating below the 125 US dollars a barrel mark - more than twice the cost compared to a year ago.