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BRITISH AIRWAYS REPORTS PRELIMINARY TRAFFIC AND CAPACITY STATISTICS FOR NOVEMBER 1991

 BRITISH AIRWAYS REPORTS PRELIMINARY TRAFFIC
 AND CAPACITY STATISTICS FOR NOVEMBER 1991
 NEW YORK, Dec. 9 /PRNewswire/ -- British Airways (NYSE: BAB) announced today that scheduled revenue passenger miles (RPMs) in November increased by 1.6 percent compared with the previous year.
 The result compares with year-on-year growth of 1.2 percent in October, which represented the first month of positive traffic growth recorded since the Gulf War.
 Traffic growth in November was restricted to intercontinental services, where scheduled RPMs increased by 2.3 percent. Traffic on U.K./Europe services remained depressed, with scheduled RPMs down by
1.3 percent. Scheduled available seat miles (ASMs) flown in November increased by 1.0 percent. The passenger load factor of 65.2 percent was up by 0.3 points compared with the previous year. Cargo ton miles (CTMs) in November were up by an encouraging 6.1 percent compared with the previous year.
 For the financial year-to-date, British Airways scheduled traffic (RPMs) declined by 4.0 percent, with capacity (ASMs) down by
2.1 percent. Scheduled passenger load factor was 71.8 percent, down
by 1.4 points compared with the previous year. Cargo traffic (CTMs)


for the period decreased by 1.1 percent compared with the previous year, with total scheduled RTMs down by 3.4 percent.
 Highlights of the Month
 An interim net profit of $266 million for the six months ended September 30 was announced by the company on November 12. Chairman Lord King said the figures were better than originally anticipated and suggested that British Airways' trading performance was "at least on the way to recovery." However, looking ahead, he warned "The outlook for the U.K. and U.S. economies remains uncertain. Our results for the year will depend on the timing of the economic recovery in the major markets we serve."
 The U.K. Department of Trade and Industry cleared the sale of the business previously carried on by British Airways Engine Overhaul Limited to General Electric of the U.S. for around 272 million pounds sterling.
 British Airways announced an agreement in principle to sell its property maintenance branch to Drake and Scull Technical Services for an undisclosed sum. Drake and Scull is expected to take over maintenance of the airline's buildings, facilities and specialist equipment at Heathrow and Gatwick from Feb. 1, 1992.
 All union panels representing U.K. ground staff and those representing U.K. pilots and flight engineers have recommended acceptance of the airline's new two-year pay deal. The Cabin Crew 89 union representing about half of the airline's cabin crew has also recommended t its members acceptance of the proposals for pay and for a new Long Range Agreement. The British Airlines' Stewards and Stewardesses Association had taken no decision on the same proposals at the time of writing.
 -0- 12/9/91
 /CONTACT: John W. Lampl of British Airways, 718-397-4729/
 (BAB) CO: British Airways ST: New York IN: AIR SU:


TS -- NY020 -- 0469 12/09/91 10:41 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 9, 1991
Words:498
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