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BRITISH AIRWAYS TRAFFIC & CAPACITY STATISTICS - MARCH 1993 (PRELIMINARY)

 NEW YORK, April 5 /PRNewswire/ -- British Airways scheduled revenue passenger miles (RPMs) in March increased by 11.8 percent compared with the previous year, with scheduled available seat miles (ASMs) up by 10.8 percent. The 69.6 percent scheduled passenger load factor for the month was up by 0.7 points compared with the previous year. This represents the first year-on-year increase since August 1992. Results since November 1992 include services formerly operated by Dan-Air. Excluding these services, the underlying rate of traffic growth (RPMs) for British Airways scheduled services was 10.0 percent.
 European performance in March was slightly better than in February, with passenger load factor down by 0.9 points compared with the 1.4 points reduction reported in February. Intercontinental passenger load factor in March was up by 1.2 points compared with the previous year, with load factors on Americas and Pacific routes ahead of last year. Cargo traffic in March was up by 8.1 percent compared with the previous year.
 Premium traffic in March remained depressed, producing fourth quarter (ended March 1993) premium demand 4 percent below that of the previous year. This compares with the 3 percent decline in premium traffic reported in the third quarter. Despite exchange rate benefits (resulting from the lower value of sterling) in the fourth quarter, passenger yield remained under pressure during the period. The combination of industry capacity increases exceeding growth in demand, together with continuing effects of economic recession perpetuated aggressive industry pricing during the industry's weakest seasonal period of demand. British Airways passenger yield for the fourth quarter remained below levels of a year ago.
 For the 1992-93 financial year, British Airways scheduled traffic increased by 12.3 percent compared with the previous year on a capacity increase of 11.3 percent. The 70.8 percent scheduled passenger load factor was up by 0.6 points compared with 1991-92.
 The US Government approved British Airways' strategic alliance with USAir, with clearance for the normal period of one year for code-sharing arrangements between the two airlines, and plans for wet-lease operations by British Airways on services linking London Gatwick with Pittsburgh and Baltimore. The two airlines will offer code-sharing flights between USAir and British Airways to 38 US cities in a phased program commencing May 1st.
 British Airways announced a second interim dividend of 7.54p net per share (85.45p per ADR) for the year ended March 31, 1993. As a result, total dividends of 10.60p net per share (1.14 pounds per ADR) will have been paid to shareholders in respect of the year ended March 31, 1993. This represents an increase of 4.1 percent over the dividend of 10.18p net per share paid in respect of the financial year ended March 31, 1992. The board does not intend to propose a final dividend in respect of the year to March 31, 1993.
 British Airways completed its purchase of a 25 percent stake in the Australian airline Qantas following regulatory clearance from the Secretary of State for Trade and Industry in the UK, who accepted a recommendation from the Office of Fair Trading that the deal need not be referred for study by the Monopolies and Mergers Commission. The deal had earlier been given approval by the Australian competition authorities.
 Non-stop services between Mexico City and London were launched together with new transatlantic regional services between New York and Birmingham and Los Angeles and Manchester as British Airways' new summer schedules came into effect on March 28th. Non-stop service to Beijing commenced on April 3rd.
 British Asia Airways, a wholly-owned subsidiary of British Airways, inaugurated direct services between the UK and Taiwan.
 -0- 04/05/93
 /CONTACT: Sandy Gardiner, 718-397-4725, or John Lampl, 718-397-4729, both of British Airways/
 (BAB)


CO: British Airways ST: New York IN: AIR SU:

AH -- NY022 -- 2937 04/05/93 10:29 EDT
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Publication:PR Newswire
Date:Apr 5, 1993
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