Braniff Inc. may report a profit in...

Braniff Inc. may report a profit in its third quarter ending Oct. 31, according to Chief Financial Officer W. Howard McKinnon. The Dallas-based airline earlier this month agreed to a $102-million buyout by an investment group led by Paine Webber Group Inc. Braniff lost $9.6 million on sales of $239.5 million in fiscal 1988 and reported a loss of $8.1 million in its first quarter of fiscal 1989. Paine Webber supplied a $37-million bridge loan to fund the buyout; Braniff plans to raise a further $40 million from selling assets to American Airlines. The remaining $25 million will be supplied by BAI Cor Holding Corp., which will own 80% of the firm.