British Airways yesterday announced a pre-tax profit of £415 million for the year to March 31, 2005 (2004: £230 million profit).

Operating profit for the year was £540 million (2004: £405 million). The operating margin was 6.9 per cent. Net debt at £2.9 billion fell by £1.2 billion during the year and is at its lowest level since 1993.

Cash inflow, before financing, was £1.2 billion, an increase of £307 million.

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