News: bmi group continues improved performance in 2004
Flights > News > # 178 (05/02/2005)
bmi today reported a £2.1 million pre tax profit for the financial year ending 31 December 2004 compared to a pre tax loss of £9.8 million in the previous year. Group turnover increased 7.5 per cent to £830 million (against 2003’s £772 million). Passengers carried increased by 11 per cent to 10.5 million (2003: 9.4 million) and the group load factor increased from 67 per cent to 70 per cent.
Sir Michael Bishop, chairman of bmi, said: “We have achieved a return to profitability ahead of expectations. A robust approach to controllable costs and an ability to compete effectively in exceedingly tough market conditions has had a positive impact on our trading results".
bmi experienced major changes throughout 2004. Three new 130 seat Airbus A319 aircraft were delivered during the year and a further four aircraft are set to be in operation by October 2005. New destinations of Aberdeen, Inverness and Naples were added to the network in 2004.
The prospects for bmi long haul operations improved significantly during 2004 with the introduction of new services to the Caribbean from Manchester and the first long haul services licensed to bmi from Heathrow with a route to Mumbai.
In 2004, the group’s low-cost offshoot bmibaby achieved an increase in passenger carryings, load factor and yield. The number of passengers carried by the airline in 2004 increased by 16 per cent to 3.2 million, up from 2003’s 2.8 million.
The bmibaby network was expanded in 2004 to include a full year of operation at Manchester and Durham Tees Valley in addition to existing operations at Nottingham East Midlands Airport and Cardiff. The overall capacity increased by 9%.
In January 2005 the airline introduced what has since proved to be its most successful base launch to date from Birmingham.
Sir Michael Bishop concluded: “The bmi group is well placed to meet the future challenges as our
2004 results demonstrate. 2005 has started well and providing market conditions remain stable I am confident of a further improvement in the group's results in the current year."
Add to:
Related Airlines:
Related Airports:
