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Management for the future British Airways is the pioneering airlines companies in the globe with a vigorous (quantitative analysis will be done later) annual sales and profit generation. The hardcore goal of the company is the appropriation of the commercial benefits in a single campus and in the policy of shifting the operations in the Heathrow Airport which is the largest airport in the world…
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Download file to see previous pages In the fiscal year 2007, the company executed about 33 million passengers and 762,000 tons of cargo. The company recorded a declining revenue growth in the last five years. The revenues of the company grew at a rate of compound rate of 3% from an amount of ?7,688.0 million in 2003 to ?8,492.0 million in 2007 (Premium Company Profile: British Airways Plc, 2008). 2003 Year 2003 was very difficult for the company. The revenue generating mechanism of te company in the first part of the year suffered from the aftershock of the 9/11 incident inculcated with the economic downturn. In the mid phase of the year, the threat of the war in the Middle East created uncertainty and led to the tremendous decline in the demand. At the end of the financial year hostilities with adverse consequences and travel in the Middle East was curtailed. Again the outbreak of the contagious disease SARS (Acute Respiratory Syndrome) took place with its devastating effects on the company’s revenue generation. The company suffered a tremendous loss of around ?26 billion. In that juncture, several airlines went out of business and the others struggled to remain viable. In the United States, the carriers propped up by the government handouts and loan guarantees a competitive advantage not available to nor desired by the company. Against this critical juncture the performance of the company was quite credible. The profits were reaped through massive reduction in the costs rather than on emphasizing on the regime of improvement of the revenue and its yield. The total revenue earned was ?7.7 billion which was a decline of ?650 million from the previous year. The passenger numbers were down by 5 per cent to around 38 million. Increase in the volume of the cargo was around 4.4 per cent and the fall in the yield was by 4 per cent. The capacity deployed in the market declined by whopping 8 per cent and the performance in terms of the revenue passenger kilometers achieved. This led the load enhanced by a percentage of 1.5 per cent to around 71.9 per cent. The drive for cutting the costs and the improvement of the efficiency went under the Future Size and Shape program. A total of around ?1 billion was taken out of the business for the reduction in the unit cost of around 5.5 per cent. The manpower has been reduced by the equivalent of 10,000 people since August, 2001, and by September, 2003, a reduction of a further 3,000 was executed. One of the year’s most prominent and difficult decisions was connected with the retirement of the Concorde fleet. The company made the decision in the light of compelling economic and the technical evidence. The huge decline in the demand for the premium class travel had a heavy effect on the Concorde. The supersonic services across the North Atlantic was reduced by 50 per cent and the traditional Concorde customers stayed away or traded down, and there was faint hope of services returning to the breakeven point. The Concorde has an apex position in air transport history and the company has been extremely proud to have the globe’s only supersonic convey as the British Airways for almost 30 years. With the ...Download file to see next pagesRead More
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