A restructuring charge of $533 million relates to early retirement programmes, writing down DC-10s and retiring turboprops.

Traffic increases accounted for the 44% increase in profit. BA's yield was up 2.3%, with 1.3% due to exchange rate gains.

Passenger revenue per ASM was up 1.6 cents to 8.5 cents, with costs per ASM rising 0.96 cents to 8.65 cents.

Delta's costs were inflated by $22m due to the unresolved exemption for fuel tax. Operating costs per ASM fell 4% to 8.6 cents.

KLM's improved result came from a 10% growth in RTKs. Capacity growth of 15% resulted in a 3.1 point fall in load factors. Yield declined 3%.

Northwest prepaid the balance of a 1989 loan, reducing its debt by $537m. Costs rose due to non-cash, stock-based employee compensation.

United's loss includes $29m due to early debt payment and a $13m adjustment for the write down of nonoperating aircraft, leaving a $5m loss.

USAir cut capacity 12.5% which was coupled with a fall of 3.9% in RPMs. Load factor increased 5.9 percentage points to 65.8%.

Commercial aircraft deliveries dropped 23.7% partly owing to the strike. This was offset by lower income tax provisions and research costs.

The Australian airports kept cost increases down to 5.8%, through productivity improvements and a refinancing from the government.

A $1.84b charge for changes in accounting to its MD-11s affected McDonnell Douglas results. The military division boosted fourth quarter results.

Pratt & Whitney reported revenues of 6.17b in 1995, up 6% from 1994, but the other divisions boosted the overall profit.

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

Source: Airline reports


Source: Airline Business