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2007/08 Annual Report and Accounts
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Group consolidated income statement For the year ended March 31, 2008
      Group
£ million Note 2008 2007
Traffic revenue      
Passenger   7,541 7,263
Cargo   616 598
    8,157 7,861
Other revenue   596 631
Revenue 3 8,753 8,492
Employee costs 7 2,166 2,277
Depreciation, amortisation and impairment 4 692 714
Aircraft operating lease costs   68 81
Fuel and oil costs   2,055 1,931
Engineering and other aircraft costs   451 414
Landing fees and en route charges   528 517
Handling charges, catering and other operating costs   977 930
Selling costs   359 436
Currency differences   6 18
Accommodation, ground equipment and IT costs   576 618
Total expenditure on operations before non-recurring items   7,878 7,936
Operating profit before non-recurring items   875 556
Credit arising on changes to pension scheme 35 396
Provision for settlement of competition investigations 29 (350)
Operating profit 4 875 602
Fuel derivative gains/(losses)   12 (12)
Finance costs 8 (175) (168)
Finance income 8 111 129
Net financing income/(expense) relating to pensions 8 34 (19)
Retranslation (charges)/credits on currency borrowings 8 (11) 13
Profit on sale of property, plant and equipment and investments 9 14 47
Share of post-tax profits in associates accounted for using the equity method 19 26 5
(Charges)/income relating to financial assets 10 (3) 14
Profit before tax   883 611
Tax 11 (187) (173)
Profit after tax from continuing operations   696 438
Loss from discontinued operations (after tax) 5 (2) (134)
Profit after tax   694 304
Attributable to:      
Equity holders of the parent   680 290
Minority interest   14 14
    694 304
Earnings/(loss) per share      
Continuing operations:      
Basic 12 59.2p 37.2p
Diluted 12 58.8p 36.8p
Discontinued operations:      
Basic 12 (0.2)p (11.7)p
Diluted 12 (0.2)p (11.7)p
Total:      
Basic 12 59.0p 25.5p
Diluted 12 58.6p 25.2p

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