Braniff lost $86.5 million for the year.
Braniff Airways also said it lost $4.6 million during the fourth quarter ended Jan. 31. The Dallas-based company blamed the losses on its inability to be a successful full-service airline using 30 planes. The last three months of the fiscal year was Braniff’s first full quarter of operations as a smaller, discount-fare airline. Braniff President Ron Ridgeway said the fourth-quarter loss included substantial expenses needed to convert to a 15-plane operation.
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