PORT-OF-SPAIN, Trinidad (AP) - Rising fuel prices drove down the profits of Trinidad's struggling national airline BWIA by 80 per cent in the third quarter of 2005, an official said yesterday. BWIA's operating expenses increased from US$71.9 million (euro59.8 million) to US$78.9 million (euro65.7 million) from July to September. The main cause was a US$6.2 million (euro5.1 million) increase in fuel costs, said Peter Clarke, West Indies Stock Exchange chief executive officer. As a result, the company's operating profit dropped 80 per cent, from US$4.1 million (euro3.4 million) to US$830,000 (euro700,000). The value of BWIA's stocks also fell during the third quarter, possibly because investors were uncertain what Trinidad's government intended to do to save the airline, Clarke said. In October, the government agreed to inject US$250 million (euro208 million) into the cash-strapped airline on condition that the company be restructured. Last month, the carrier appointed a new board and chief executive officer. "If the new board implements stringent cost-cutting measures," the airline could begin its turnaround in mid-2006, Clarke said. Reprinted from jamaicaobserver.com