Company Period Net US$ mil Comp period Sales US$ mil % change Cathay Pacific
Y Dec 31 492.5 385.0 4,187 6.3 China Airlines
* Y Dec 31 46.6 45.0 1,887 5.9
CrossairY Dec 31 18.6 14.8 597 51.7
IcelandairY Dec 31 10.0 9.8 321 23.2
SabenaY Dec 31 (286.4) (56.3) 1,958 -2.8
TWAY Dec 31 (321.2) (227.5) 3,554 7.2
VarigY Dec 31 (60.4) (7.9) 2,963 -23.4 Volga-Dnepr Airlines
Y Dec 31 -- 111 27.0
Aéroports de Paris
Y Dec 31 80.2 69.2 1,408 1.3
Aìrospatiale Y Dec 31 158.7 (196.8) 9,951 3.6
Flughafen Munchen Y Dec 31 0.0 (43.3) 538 4.1
Singapore Technologies AerospaceY Dec 31 19.7 (34.1) 371 9.5
Cathay's operating profit rose only marginally to US$490m, but a $70m gain from selling Dragonair
shares pushed Cathay's net up.
China Airlines' profits were flat againt a 6% rise in the carrier's revenue.
Revenue leapt up by more than half as Crossair assimilated Swissair
's 100-seater scheduled flights and Balair/CTA
's short-haul charters. Icelandair
's profit improved slightly as turnover jumped 23%. Passenger numbers rose 13% to 1.28m and cargo tonnage rose 16%.
The airline suffered a $131m operating loss and there were $132m of extraordinary expenses covering strikes and fleet provisions.
TWA was hit by overexpansion and the Flight 800 disaster, plus a charge of $86m mainly for L.1011 and B747 retirements and the write-down of its New York-Athens route authority. Varig
's loss widened significantly under corporate law, but the airline made an $86.5m profit after adjusting for 10% inflation.
The Russian cargo carrier does not release net results, but a 13% traffic increase to 45,100 tons helped boost revenue by 27%.
Passenger traffic through the Paris airports rose 7.4%, but freight and mail only grew 1.7%. Investments reached $370m.
Aérospatiale took $7.5b of aircraft orders, more than twice the 1995 figure. The company's 1995 results included $280m of restructuring. Munich Airport
's passenger traffic rose 6% to 15.7m but its break-even result comes only after $25m of real estate sales.
Commercial revenue rose 24% as maintenance man-hour costs firmed and the company secured contracts from FedEx
Y = Year. * = Pretax profit. Currencies are converted into US dollars at average exchange rates during the reporting period. Per cent changes in local currencies.