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Bmi Posts Pre-Tax Loss Of US$17.8M For FY

Wed Mar 31, 2004 7:48 am

bmi - a Member of Star Alliance - The Airline Network for Earth - of which SAS Scandinavian Airlines and Deutsche Lufthansa A.G. - Members of Star Alliance - hold 50% minus one share together - has announced a pre-tax loss for the financial year of £9.8 million / US$17 805 620.

Operating losses were £21 million / US$38 154 900. The airline said that SARS had reduced severely interlining passengers on Star Alliance airlines including Air Canada, All Nippon Airways, Thai Airways International and United Airlines - costing the group £17 million / US$30 887 300 in lost H1 revenue.

We expect a stronger financial performance for the full year in 2004. We should be back to break even or better," said Sir Michael Bishop.

"In addition to the daily US services to Washington and Chicago, BMI is operating flights to Toronto from next month in a joint venture for the summer season with Air Canada, and in the next winter season it is launching services from Manchester to the Caribbean to Barbados, Antigua and St Lucia."

Long haul opreations from MAN only incurred a £1 million / US$1 816 900 this year.

bmi and Singapore Airlines Limited also announced codesharing to Belfast City, Edinburgh, Glasgow and Brussels commencing 28 March 2004.

More information at the Financial Times website

Information was rephrased except for portions in quotation marks signified by " ". Currency Conversion courtesy of the Currency Converter
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