The sale of Continental Airlines shares added US$126m to pre-tax income, which was lowered by $24m by a regional airlines strike.

Air France made its first net profit since 1989, but Air France Europe lost $93m despite $50.5m in aircraft sales. Future results will be reported jointly after the two airlines' merger.

British Midland's pre-tax profit leapt 45% to $11m while the Manx and Loganair regional airlines' pre-tax profit rose 8% to $2m.

Losses were impacted by $584m in restructuring charges. Operating profit dropped 54% to $21m. Alitalia hopes to break even in 1997.

Net income soared 26% to $35m. Passenger numbers reached a record 40m, up 6%.

Operating profits fell 25% to $865m due to fuel prices and a $198m restructuring charge. Reversing the write-down of BA's US Airways stake generated $195m.

Improved passenger revenues and operating expenses reduced operating losses by 50% to $33.4m and net losses by 37% to $51m.

Net profits fell 57% to $136m, due to fuel costs and a $167m restructuring charge. KLM made $168m by selling some Northwest preference shares and $52m by revaluing the rest.

Operating profits fell 19.5% to $448m, while pre-tax profits dropped 9% to $456m. The 1995 net includes a $614m accounting gain.

Martinair blamed price wars and higher fuel prices for its 89% side in net income to $2.8m.

Competition and an early Easter caused operating income to fall 72% to $24.3m.

Operating profits fell 14% to $635m, while pre-tax profit was up 3% at $661m, after a surplus of $113m from selling six aircraft plus spares.

Y = Year. Q = Quarter. * = Pretax result. Currencies are converted into US dollars at average exchange rates during the reporting period. Per cent changes in local currencies.

Source: Airline Business