Czech airline CSA posted a CZK324.2 million koruny (USD$13.9 million) audited net profit for 2004 on Tuesday, above the previously reported CZK271 million (USD$11.6 million).

The company said the restating followed higher than expected foreign revenues last year which had not been known in March when the firm released preliminary figures.

In 2003, the airline netted CZK70.6 million (USD$3 million).

Total operating revenues grew 16 percent last year year-on-year to CZK22.3 billion (USD$955.1 million), the company said.

CSA aims to raise net profit this year to CZK521.5 million (USD$22.3 million).

The 2004 profit under IFRS standards, given for the first time, was USD$22.9 million, from USD19.5 million in 2003.

CSA forecasts 5.4 million passengers this year, up from 4.34 million last year. In the first quarter, passenger numbers rose 17 percent to 964,000.

CSA is an expanding state-owned airline which could be privatized after elections next year. It is a member of the Sky Team alliance led by Air France and Delta.