BRITISH AIRWAYS TURNS A PROFIT FOR QUARTER

BRITISH AIRWAYS TURNS A PROFIT FOR QUARTER

British Airways PLC reversed a loss in its traditionally weak fiscal fourth quarter, and increased profit by 40 percent for the full year.

British Airways earned 31 million (US$52 million), or 6 cents a share, in the fiscal quarter ended March 31. That compares with a loss of 2 million ($3.4 million) in the comparable 1989 period.Revenue increased 13 percent to 1.12 billion ($1.9 billion) from 991 million ($1.7 billion) a year earlier.

For the full year, earnings totaled 245 million ($414 million), or 53 cents a share, compared with 175 million ($296 million), or 39 cents a share, a year earlier.

Revenue increased 14 percent to 4.84 billion ($8.2 billion) from 4.26 billion ($7.2 billion).

The airline said the results were helped by strong growth in routes to Japan, South America and the United States. Earnings also were boosted by the sale of 11 aircraft during the year.

Personnel costs rose 12 percent, while fuel costs soared 30 percent

because of higher world oil prices, the airline said.