An exceptional charge of £139.2m ($226.8m) for restructuring contributed to the loss. Team Aer Lingus, the maintenance unit, lost £27.9m.

Air France expects losses of FFr3.5b ($713m) for its 15 month 'year'. Debt fell from FFr33.6b to FFr27b due to the state capital injection.

Lower ticket prices and fares contributed to the loss. Load factor was 56.4%, down from 60.2% in 1994, and yield was down 13%.

Without restructuring costs of L125b ($74.3m) and other extraordinaries, Alitalia's net loss would have been L178b, compared to L431b in 1993.

Strong economics and cost control were credited for the profit, but yields fell 2.5% and aircraft repositioning at American Eagle affected expenses.

Cost-cutting and lease payment deferrals contributed to the decrease in losses. Traffic grew 2.8% and yield 1.2%. Operating costs fell 5.7%.

Crossair paid $4.8m to staff as a profit bonus and raised dividends to 4%. The delivery of five Saab 2000s helped push costs up 8%.

Operating income rose 12.1% to $135.1m, but a share price gains led to a $63.6m payment to employees and the stronger yen cost $59.1m.

The airline loss fell with the help of 17% traffic growth. But it suffered from competition, the CFA franc devaluation and the strong Belgian franc.

Increased air traffic after the fall in inflation meant the first profit since 1986. But accumulated losses leave a negative net worth of $162.8m.

The sale of aircraft to mesa boosted income by $24m. Yields rose internationally, but overall they declined 2.4%. UAL made a $38m operating profit.

An increase in air travel took most of the credit for the halving of USAir's net loss, but a mild winter was partly responsible.

Source: Airline Business