Toucan

British Airways has reported a sharp fall in profits between April and September this year, following a period of "incredibly difficult trading conditions".

The national flag-carrier confirmed in a statement today, profits had slipped 91.6 per cent over the period – totaling some £52 million.

This is down from £616 million for the same period last year.

Commenting on the figures BA's chief executive, Willie Walsh, said: "The six month period will be remembered as one of the bleakest on record. The period was hit by a crisis in the banking sector, record fuel prices and several airlines going out of business."

However, British Airways hopes to remain in the black for the year, with Mr Walsh adding: "We remain focused on delivering a small operating profit in the current financial year."

In response shares in the airline rose by 14.9 per cent, to 150 pence.

Revenue increased six percent to £4.4 billion; however, a sharp increase in profits – principally due to an increase in fuel costs – has moderated profit.

The falling value of the pound also added £100 million to costs.

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