EARNINGS : Future Dim, British Airways Told

British Airways PLC said today its second-quarter profit rose 9.4%, but its chairman warned that a profit in the second half is unlikely.

For the three months ended Sept. 30, after-tax profits for Britain’s biggest airline came to 116 million pounds, or $217 million, compared to 106 million pounds in the same period a year ago. Sales rose 4.6% to 1.4 billion pounds, or $2.6 billion, from 1.35 billion pounds a year earlier.

For the first six months, after-tax profit jumped 35%.

Chairman Lord King said the airline is “unlikely to show a profit” in the second half because of higher fuel costs that have resulted from the Persian Gulf crisis. He said fare increases won’t recoup the extra costs associated with fuel hikes and expected lower traffic growth.