P.M. BRIEFING : British Airways Profits Leap
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LONDON — British Airways today reported its first-quarter pretax earnings jumped 62.5% to $293.3 million from $180.5 million in the year-earlier period.
Profits after tax rose 79% to $208.7 million from $116.6 million in the like 1989 period, the company said. Share earnings increased to 29 cents from 16 cents a year ago.
Revenues for the quarter rose 14.3% to $2.44 billion from $2.14 in the 1989 quarter.
British Airways Chairman Lord John King said the airline substantially increased its load capacity in response to an increase in air travel, and carried a record number of passengers.
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