Braniff Profits Hit $9.4 Million in 3rd Quarter
Braniff Inc., the Dallas-based airline that emerged from bankruptcy last year, reported a third-quarter profit Tuesday of $9.4 million, compared to a loss of $11.4 million for the same quarter of 1984.
The third-quarter results bring the carrier’s profits for the nine months ended Oct. 31 to $24.6 million, compared to a loss of $81.9 million for the same period last year, the company said.
Revenue for the three months ended Oct. 31 totaled $67 million, compared to $70.7 million in the year-earlier period. For the first nine months of 1985, revenue totaled $190.5 million, compared to $170.5 million for the same period last year, the company said.
Braniff President Ron Ridgeway said he expects the rest of the year to be profitable, despite what he called industry pressures that “may adversely impact the operating results for the fourth quarter.”
He apparently was referring to heavy fare discounting by competitors, including Texas-based Continental and American. Some airline industry analysts are predicting that fares will slide nationwide through the early part of next year.
Grounded for 22 months while it reorganized under Chapter 11 of the U.S. Bankruptcy Code, Braniff emerged from its financial difficulties in March, 1984, as a long-distance, low-fare carrier with trimmed costs.