Fuel and integration costs hit BMI

BMI British Midland profits were halved last year as it was hit by integration costs arising from its takeover of loss-making BMed, the former British Airways franchise carrier, as well as rising fuel costs.

The group has become the first airline to capitalise its holding of take-off and landing slots at Heathrow airport in its 2007 accounts, transforming the value of its balance sheet and breaking new ground in airline accounting.


Inclusion of the slots with what the airline called a