British Airways, Europe's biggest airline, said this morning that capacity reductions had helped it to a third quarter operating profit of £80 million sterling after a loss last year.
The figures came in above analysts' forecasts of £56 million to £68 million compared to a year-ago loss of £2 million. The airline said talks to sell its discount airline Go had reached an advanced stage.
'These results reflect the reduction of unprofitable capacity and continued cost efficiencies,' a statement said.
BA shares have risen steadily since November, when its second quarter results beat market forecasts, and rose sharply last week on analysts' expectation of more strong quarterly results. BA shares ended at 455 pence on Friday, and have strengthened by about 15% since the start of the year.
