Burlington Northern Air Freight

Despite record revenues, Burlington Northern Air Freight of Irvine posted a 51% decline in fourth-quarter profits and a 27% drop in fiscal 1984 net income as its shipping costs increased.

For the fourth quarter, profits at the international freight forwarder plummeted to $3.5 million for the three-month period, ended Dec. 31. By comparison, 1984 fourth-quarter net income was $7.2 million.

Net income for fiscal 1984 dropped to $19.8 million from $27.5 million in 1983.

Quarterly and annual revenues, however, reached record levels. Fourth-quarter 1984 revenues rose 3% to $120.5 million from $116.7 million in the like period a year ago. Fiscal 1984 revenues increased 11% to $471.4 million from $424.7 million in 1983.

Although Burlington’s business increased, a reduction in the number of air freight jets forced the company to pay higher shipping costs for increasingly scarce cargo space. A company executive said the lack of space is especially troublesome on night flights when most air freight is shipped.

Major airlines have eliminated their fleets of wide-body air freight jets to meet more stringent noise-reduction measures at airports, a Burlington official said.