MAIR Holdings reported a $2.5
million net loss for the second quarter ended September 30, equaling the
carrier’s financial results from the same period a year ago.
The parent of regional operator Big
Sky Airlines attributes its second quarter loss to Big Sky’s $3.4 million
“Big Sky’s losses were impacted by
startup expenses for its new Boston-based expansion in partnership with Delta
Air Lines as well as higher than expected fuel expenses”, MAIR says.
Operating revenues were $9.1
million, a 46.8 % increase from the $6.2 reported during the same time last
Expenses increased by 30.2% to 12.5
million, from $9.6 million last year. .
“During the second quarter of fiscal
2008, MAIR continued its focus on improving Big Sky’s operations”, MAIR’s president CEO Paul Foley
says in a statement. “We believe that MAIR’s
ultimate goal of maximizing value for our shareholders will be best served by
first achieving profitability at Big Sky. We expect Big Sky to achieve monthly
profitability in the fourth quarter of fiscal 2008, primarily because of the
new markets Big Sky is servicing as a Delta connection carrier”.
Big Sky’s relationship with Delta
began in April; the carrier flies from Boston
New York and
on to Massena and Ogdensburg, both in New
York. Big Sky also flies
between New York’s
capital city Albany
and Boston as
well as a weekly flight from Albany
on a Watertown-Massena-Ogdensburg-Albany routing.