CHRISTINE ROMANS, CNN ANCHOR: Europe's biggest airline, British Airways, returned to profitability today. That company earned $117 million, and that beat estimates.</s>DAVID HAFFENREFFER, CNN ANCHOR: Janet Guyon has closely followed the airline's fortunes and misfortunes for us and joins us now from London. And, Janet, is this profit report enough to life BA's fortunes?</s>JANET GUYON, LONDON BUREAU CHIEF, "FORTUNE": I think so, David. It really does look like they're finally pulling out of their turbulent times. They pulled out of the red. That third quarter report, which is for the quarter ended December 31, was better than the analysts expected. It looks like that may be better going forward. They've cut capacity on their North American routes, getting rid of those unprofitable leisure travelers, so to speak, and catering to the business traveler. And they've even said that they may start flying concorde by the end of this year. So there is a lot of good new here with British Airways. Now the stock was down a bit this morning, about two, three percent. I think that's pretty much profit taking, because the stock had risen about 15 percent since the beginning of the year.</s>ROMANS: Janet, does the slowing U.S. economy -- we've been talking about it pretty much every day for the past couple of months -- how does that factor into British Airway's strategy?</s>GUYON: I would say that that factors in. It could be a negative, and it's something to watch going forward. But for once in British Airway's recent history, they are prepared: They have cut capacity on those North American routes, so if the U.S. economy is slowing down and continues to slow down, they really will be prepared for that. They won't have quite as many seats going back and forth across the north Atlantic, and they will be catering to the people that must fly, those business travelers.</s>ROMANS: OK, Janet Guyon in London, thanks for joining us this morning.
'Fortune': British Airways Returns to Profitability