British Airways has reported pre-tax profits of £335m for its first half to the end of September, helped by cost-cutting measures and higher passenger numbers.
The figure compared with £60m a year earlier and included profits of £220m over the final three months. But BA said fuel costs were 12% higher than last year.
Chief executive Rod Eddington said the company's net debt figure of £3.3 billion was now the lowest it has been since 1993, but he warned that rising fuel costs were expected to continue and would remain a challenge.
Turnover lifted 2.2% in the second quarter to just over £2 billion, although more expensive fuel meant operating expenditure was in line with last year. BA also said employee costs rose by 7.7% as wage awards and increased pension contributions more than offset savings from job cuts.
BA has reduced staff numbers by more than 13,000 as part of a Future Size and Shape strategy unveiled by Mr Eddington in the wake of the September 11 attacks.
Other cost-saving initiatives have seen the introduction of online printed flight boarding cards, which BA said were now accepted at 31 airports in the UK and Europe. As a result, selling costs at the airline fell 17.6% on last year.
