BMI BRITISH MIDLAND reported a halving in full-year losses last week and said it expected a stronger performance in 2004 despite trading conditions that remain challenging. Pre-tax losses for 2003 shrank to ”9.8m from ”19.6m the previous year, with the impact of SARS and the Iraq war hitting its performance, especially in the first part of the year. Passenger volumes grew by 25% to 9.4m in 2003 while load factor increased 63 to 67%. Sir Michael Bishop, chairman, said that there were no plans to spin off bmi Baby, although he acknowledged that it now had its own Air Operators Certificate.
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