British Airways for the six months ended Sept. 30 posted a pretax profit of £52 million (US$95 million)

, down from £616 million (US$1.1 billion) a year earlier, and a 9 percent cut in longhaul premium traffic. "The six month period will be remembered as one of the bleakest on record," said BA chief executive Willie Walsh, citing "a crisis in the banking sector, record fuel prices and several airlines going out of business." BA said it expects to achieve "a small operating profit in the current financial year and sustainable profitability in the medium and long term."