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British Airways scores big profit turnaraound
[SUN Edition]
Toronto Star - Toronto, Ont.
Author: Ray Moseley Chicago Tribune
Date: Jan 12, 1986
Start Page: F.2
Abstract (Document Summary)

The British Airways of a few years ago was a shambles. It was losing vast sums of money, staff morale was low and passengers grumbled about the service when they didn't shun it. Business travellers polled by a magazine in 1982 rated it their least favorite airline.

British Airways ended its 1984-85 fiscal year in March with operating revenue of $3.5 billion (U.S.) and net profits of $278 million. That compared with 1981 net losses of about $255 million.

The government had planned to take British Airways private in 1985, but those plans were scuttled when receivers for the bankrupt Laker Airways filed a $1 billion lawsuit in U.S. courts, contending that British Airways, Trans World and Pan American World Airways conspired to drive the cut-rate airline out of business.

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