AIRLINES

Braniff Is Returning: The airline will be back at Los Angeles International and a few other airports after a 1 1/2-year absence. It will begin service July 1 between Los Angeles, Dallas-FtWorth and Newark, N.J. The Dallas-based airline, with eight leased planes and 300 employees, will also fly between Florida and Islip, N.Y. Braniff went bankrupt in 1982 and, after a reorganization, ended up in bankruptcy court again in 1989. The current owners bought the name and hired one of the airline’s former executives, Sheldon Srulevitch, as president. The carrier has been flying charters since December to Canada, Mexico and the Caribbean.