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The Independent
6 minutes ago
- The Independent
British Airways' profits jump despite Heathrow fire closure
(adds final three pars) British Airways' half-year earnings have increased despite a £40 million hit from the closure of Heathrow in March after a substation fire, as the airline ramped up its flight programme. The carrier reported a 48% jump in underlying operating profits to £824 million for the six months to June 30, up from £555 million a year ago. Owner International Airline Group (IAG) said earnings were driven higher at British Airways as it increased flight capacity by 2.1% and boosted passenger revenues. The wider IAG company – which also owns Aer Lingus, Iberia and Vueling – posted a 43.5% rise in earnings to £1.88 billion for the first half. Pre-tax profits rose sharply to £1.75 billion from £1.05 billion a year ago. IAG chief executive Luis Gallego said: 'Our strong performance in the first half of 2025 reflects the resilience of demand for travel and the success of our ongoing transformation, underpinned by the fundamental strengths of our group. 'We continue to benefit from the trend of a structural shift in consumer spending towards travel. 'We remain focused on our market-leading brands and core geographies, where we continue to see robust performance, allowing us to invest in fleet as well as technology to improve operational efficiency and customer experience. 'These results give us confidence that we will deliver good earnings growth and margin progression for the full year and enable us to create value for our shareholders through our sustainable dividend and the share buyback.' British Airways revealed in May that costs of the Heathrow closure earlier this year had run up to £40 million. The temporary closure was caused by a power outage after a blaze at the North Hyde substation in west London, with more than 270,000 air passenger journeys disrupted by the incident. In the first-half figures, BA owner IAG said it was 'confident in delivering good earnings growth' for the group over the full-year.
The Independent
6 minutes ago
- The Independent
Transfer news live: Liverpool formulate £120m Isak bid, Arsenal's Eze deadline, Man United's Sesko plan
Tottenham have advanced talks with Bayern Muninch to bring Joao Palhinha back to the Premier League and give Thomas Frank's side a midfield boost while Arsenal are aiming to bolster their forward line by signing Crystal Palace's Eberechi Eze. Palace want a fee in excess of £60m which is the amount of Eze's release clause but the Gunners are running out of time to trigger it. Manchester United are hopeful of securing a No.9 and are talking with RB Leipzig over a move for Benjamin Sesko. On the sales front, Jadon Sancho could be set to return to Borussia Dortmund and United are in talks with Chelsea and Aston Villa over Alejandro Garnacho. Meanwhile, Liverpool are interested in bringing to the club after he requested to 'explore his options' and have reportedly agreed personal terms with the striker. Newcastle value him at £150m but Liverpool will hope to reduce that if they put in an official bid. Nottingham Forest signs Dan Ndoye Nottingham Forest have signed Dan Ndoye from Bologna in a deal worth £34m. The winger joins on a five-year contract after Forest fought off interest from Napoli for the Swiss international. The 24-year-old scored eight goals and provided four assists in 30 Serie A appearances last season. Mike Jones1 August 2025 07:42 Spurs in advanced talks with Bayern Munich over Joao Palhinha Tottenham are in advanced talks with Bayern Munich over the loan signing of Joao Palhinha says Sky Sports News. Spurs have apparently also negotiated an option to buy in the deal. Should the deal go through Palhinha would return to the Premier League just one year after he joined Bayern from Fulham for a fee worth up to £47.4m. The 30-year-old midfielder made 25 appearances across all competitions for Bayern last season, including 17 outings in the Bundesliga. Mike Jones1 August 2025 07:34 Liverpool 'agree personal terms' deal with Isak The Sun is reporting that Liverpool have reached an agreement with Alexander Isak's team over personal terms for a five-year deal. The Newcastle striker wants to leave the club this summer and is pushing for an exit with the Premier League champions the most likely destination. Isak currently earns around £130,000 per week and a move to Liverpool could see that rise to £300,000 pw. Liverpool have yet to agree a fee with Newcastle but the North East club will demand at least £150m. The Reds believe they could do a deal for £120m instead. Arsenal know Eze release clause deadline This rumour feels very similar to Arsenal's failed pursuit of Benjamin Sesko. The Gunners have a price in mind and will not go past it. What that price is cannot be said but it seems to be lower than the £60m release clause Crystal Palace are waiting to be triggered. The Gunners are in no hurry having already strengthened their forward line with Viktor Gyokeres and Noni Madueke. For his part, Eze is said to be keen on the move and has told his agents, who are in contact with Arsenal, that he is tempted by the opportunity. Arsenal have until August 16 before Eze's release clause expires though it is believed Palace will keep their price the same after that deadline. Man Utd exploring swap deals with Chelsea and Aston Villa for Garnacho Sticking with United, the club have spoken to both Chelsea and Aston Villa about Alejandro Garnacho, as well as the possibility of players such as Nicolas Jackson and Ollie Watkins going the other way. United's PSR pressures are well known, meaning they are investigating deals where players go both ways. The club want an athletic number-six and a goalkeeper, with the potential order of signings dependent on opportunities and sales. Chelsea's interest in Garnacho is long-standing, but there is one main obstacle as regards any potential trade. While the Stamford Bridge hierarchy value Jackson at £80m, they don't want to pay more than £30m for Garnacho. Mike Jones1 August 2025 07:27 Manchester United in talks over Sesko We start at Old Trafford where Manchester United have opened talks with RB Leipzig over a move for 22-year-old Benjamin Sesko. Leipzig have set an asking price of €75m (£64.6m) plus add-ons for Sesko which means it could be an expensive move for United. They'd be taking a gamble on the youngster who only has experience of the Bundesliga and no doubt the club would want to negotiate that fee. Leipzig are in a strong position with Sesko having four years to run on his contract and did not budge in negotiations with Arsenal earlier in the window. United are also interested in Aston Villa's Ollie Watkins but have been told he is not for sale. Mike Jones1 August 2025 07:25
The Independent
6 minutes ago
- The Independent
British Airways profits jump despite Heathrow fire closure
British Airways' half-year earnings have increased despite a £40 million hit from the closure of Heathrow in March after a substation fire, as the airline ramped up its flight programme. The carrier reported a 48% jump in underlying operating profits to £824 million for the six months to June 30, up from £555 million a year ago. Owner International Airline Group (IAG) said earnings were driven higher at British Airways as it increased flight capacity by 2.1% and boosted passenger revenues. The wider IAG company – which also owns Aer Lingus, Iberia and Vueling – posted a 43.5% rise in earnings to £1.88 billion for the first half. Pre-tax profits rose sharply to £1.75 billion from £1.05 billion a year ago. IAG chief executive Luis Gallego said: 'Our strong performance in the first half of 2025 reflects the resilience of demand for travel and the success of our ongoing transformation, underpinned by the fundamental strengths of our group. 'We continue to benefit from the trend of a structural shift in consumer spending towards travel. 'We remain focused on our market-leading brands and core geographies, where we continue to see robust performance, allowing us to invest in fleet as well as technology to improve operational efficiency and customer experience. 'These results give us confidence that we will deliver good earnings growth and margin progression for the full year and enable us to create value for our shareholders through our sustainable dividend and the share buyback.'
