BA full year profits up

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BA said that two million passengers had gone through Heathrow Terminal 5 since it opened earlier this year. BA also said that it would be giving its first dividend since 2001.

Willie Walsh, chief executive of BA, said, "Delivering ten per cent [operating margin] has not been easy, but we have achieved it by remaining focused on our strategy for the last six years. We tackled our pension deficit and we have strengthened the fundamentals of our balance sheet while at the same time growing a

profitable business.

"We operate in a volatile market and this year has been no different. Against the background of a progressively tougher trading environment we have continued to work hard on our cost savings to deliver these strong results.

On Terminal 5, Walsh said, "Despite the difficulties of the opening of Terminal 5 in the first few days, it is now working well and some two million passengers have gone through it and many have enjoyed the experience. Phase 2 of the move of our longhaul services into the terminal begins on June 5 and will include our blue riband New York services and flights to seven other destinations."