Air Canada cut its operating loss from C$12m to C$7m. Passengers and yields both rose 6%. There were C$40m of non-operating gains in 1994.

Operating income trebled to US$162.2m, moving ANA into the black. Boosted by the Kobe earthquake and the strong yen, traffic rose 6.1%.

Traffic and yields were soft early on, but March produced stronger results. A new employee compensation scheme increased costs by $9m.

Operating profit leapt 32.1% to £618m ($961m) but a £125m provision against the USAir investment depressed the net result.

Canadian's loss widened due to the weaker Canadian dollar, the ATR42 grounding and a CRS problem at Canadian Holidays.

Cost cuts helped Delta make an operating profit of $40m against a $67m operating loss last year. Seat-mile costs fell 3.3% to 9.07 cents.

The strong yen boosted passenger traffic by 9.9% and produced JAL's first revenue increase for four years. The operating loss fell 66% to Y9.9b.

Passengers rose 9.5% and cargo tonnage 22.5%, but currency fluctuations hit yields. The cargo, technical and systems subsidiaries made profits.

SAS's operating income almost quadrupled to SKr928m, but the weaker Swedish krona led to a SKr383m exchange loss. SAS sold one B767.

Net profit rose 14.5% in S$, despite losses at the investment and duty-free subsidiaries and SilkAir, and lower profits at SIA Engineering and SATS.

Southwest's net income fell markedly. Competition meant traffic rose only 3.3%, cutting load factors 5.8 points to 61.1%. Yields fell 3.2%.

Thai was hit by foreign exchange losses on yen borrowings, a new salary structure, and new accounting for new aircraft price concessions.

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 Business