British Airways’ Second-Quarter Profits Took Nosedive

British Airways has posted a fall in second-quarter profits. The suspected terrorist plot to target airports cost British Airways £100 million, cutting into the flag carrier’s profits.

“It is not much bigger than we thought it would be the impact to our bookings was noticeable. And it was very disappointing,” CEO of British Airways, Willie Walsh said.

Mr. Walsh said that its premium long-haul business, and premium short-haul sector were the areas hit the hardest by the tightened security arrangements that limited carry-on luggage.

BA said its operating profit for the three months to end-September fell eight percent to 240 million pounds ($458.2 million), down from 261 million pounds a year ago.

British Airways has also trimmed its full-year revenue growth forecast, but said its fuel bill would be lower than expected after oil prices fell.

British Airways announced its second-quarter results ended September 30, including a one-off write-down of the group’s investment in its regional subsidiary BA Connect of £106 million.