Air Transport World

British Airways'

British Airways' net profit for the fiscal first quarter ended June 30 totaled [pound]131 million ($218 million), down from [pound]164 million in the year-ago period. However, 1997 results were boosted by a [pound]130 million pretax gain from the sale of BA's stake in US Airways. Excluding the effect of the sale, earnings rose 77% compared with the year-ago period. Revenues rose 3% to [pound]2.3 billion. Operating profit rose 24% to [pound]173 million.

Although he praised the figures as "a good set of results," Chief Executive Robert Ayling conceded that BA faces stiff challenges posed by Asia's economic problems and the strength of U. …

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