Air Canada's operating loss widened from C$7m to C$40m. Domestic passenger revenues grew only 1% despite traffic growth of 11%.
Operating profit leapt 59% to $401m. Pre-tax profits were $113m for the airline, $130m for Sabre and $22m for management services.
Unit costs fell 13.6% as employee productivity rose 25.4%. The operating loss fell from $18m to $7.45m. The net is after releasing reserves.
Passenger revenues rose 11% despite a 9.1% capacity cut as unit revenues leapt 20%. The sale of America West shares gained $12.5m.
Operating income leapt from $40m to $169m and the net was $63m before a $556m pre-tax charge for restructuring and writing down 55 L.1011s.
El Al's 10th consecutive annual profit came as the carrier began serving Milan and Los Angeles, as well as Tel Aviv-London/Stansted-New York.
Northwest's operating result fell 8.8%, depressed by $120.1m of stock paid to employees, but the net profit was a first-quarter record.
Southwest's net nearly trebled as traffic grew 12.1% and yields rose 10.8%. Unit costs rose 5.8% due to fuel costs and the Florida launch.
Operating profit leapt from SwFr131m to SwFr237m, but SwFr365m ($309m) of restructuring costs pushed Swissair into its first loss.
TWA narrowed its loss as revenue grew 13%. Operating losses fell from $76.3m to $54.2m.
Operating earnings leapt 63% to $62m and United Airlines' parent made $6m net before a $29m loss associated with an early repayment of $242m in debt.
USAir made a $10.8m operating profit. Traffic fell 4.4% but load factors rose 4.9 points to 64.6% and yields rose 8.8% to 17.8 cents per RPM.
Y = Year, Q = Quarter. Currencies are converted into US dollars at average exchange rates during the reporting period. Per cent changes in US$.
Source: Airline Business
