Emery Losses Topped

$18 Million in QuarterWILTON, Conn. - Emery Air Freight Corp. lost $18.4 million on revenue of $358 million during the fourth quarter. That compares with earnings during the comparable 1986 period of $2 million or 10 cents a share on revenue of $236.9 million.

Emery notes, however, that while 1987 fourth quarter results include the contribution of Purolator Courier, comparable 1986 numbers do not.

For 1987, Emery lost $47.7 million on revenue of $1.2 billion. This compares with a net loss of $5.4 million on revenue of $887.5 million.

Results for 1987 reflect Purolator's contribution since its finances were incorporated last April 29. The loss was due to problems in achieving economies anticipated when combining Purolator and Emery, said William F. Souders, Emery's chairman and chief executive officer.

BA Earnings Increase

During Third Quarter

LONDON - During the third quarter British Airways had pretax earnings of 37 million ($65 million), 2 million better than in the corresponding period last year.

However, BA chairman Lord King warned that although the earnings take nine months' profits to 267 million, against 178 million, traditional fourth quarter losses could be greater than last year because of the merger with British Caledonian Airways.

BA's revenue for the nine months ended Dec. 31 was 2.65 billion, an increase of 343 million.