British Airways' Investor Day

RNS Number : 3563O

British Airways PLC

05 March 2009

 



BRITISH AIRWAYS' INVESTOR DAY 

At its annual Investor Day today (March 5, 2009) British Airways will release market guidance for the financial year 2009/10. 

The outlook for 2009/10 is for revenue to be down 5 per cent and fuel costs down 10 per cent. The business is targeting a £220m reduction in underlying non-fuel costs with a further £80m reduction during 2010/11. 

A similar operating result for 2009/10 to that forecast for 2008/09 has been targeted, before any severance costs in 2009/10.

Capital expenditure for 2009/10 is forecast at £725m.

Capacity for summer 2009 is forecast to be 2 per cent below 2008.

Overall guidance for 2008/09 is broadly unchanged from previous guidance, with revenue now expected to be up 3.5 per cent, fuel costs up £950m and non-fuel costs up 7 per cent.

A webcast of British Airways' Investor Day can be accessed via www.bashares.com on Thursday, March 5 at 8.30am and a recorded version will be available after the event.

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March 5, 2009 028/TC/09 

Certain information included in these statements is forward-looking and involves risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward looking statements. 

Forward-looking statements include, without limitation, projections relating to results of operations and financial conditions and the Company's plans and objectives for future operations, including, without limitation, discussions of the Company's Business Plan programs, expected future revenues, financing plans and expected expenditures and divestments. All forward-looking statements in this report are based upon information known to the Company on the date of this report. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. 

It is not reasonably possible to itemize all of the many factors and specific events that could cause the Company's forward looking statements to be incorrect or that could otherwise have a material adverse effect on the future operations or results of an airline operating in the global economy. Fuller information on some factors which could result in material difference to the results is available in the company's Annual Report for the year ended 31 March 2008, which is available on www.bashareholders.com.

 

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