Aer Lingus' operating profit was $83.3m, partly due to increased traffic. The carrier received $80m in government aid in 1995.
Aeromexico's load factor fell 4.5 points to 60%. Cost saving measures cut capacity 13% and reduced staff by 10%. Operating profit was $24m.
Cathay benefited from the strength of the yen, and a change in its depreciation policy. Operating margins rose 1 point to 9.8%.
Swissair's transfer to Crossair of services on aircraft up to 100 seats led to Crossair's revenue jump. The strong Swiss franc hurt yields.
Aircraft will be sold and three routes cut due to the dive into the red, which arose from higher fuel costs, recession and more competition.
Iberia reported a $36.4m operating profit for its cargo division, and forecast airline revenues will be up 7.4% to $585m in the first quarter of 1996.
South Korea's currency rise against the dollar led to a 187% profit increase. Operating profits rose 7% due to a growth in overseas travel.
Final figures will be out on 21 May, but the pre-tax, pre-aircraft depreciation profit is up 3% on 1994. Forex depressed the results by $314m.
Creditor banks will recapitalise unprofitable Mexicana with $755m allowing the government to reduce its stake from 34% to 5%.
The operating profit in 1995 was $6.95m compared to 1994's loss of $13.8m. The 1994 profit has an extraordinary item of $1.65b in state aid.
Varig attributed its losses to currency variations, primarily the gradual devaluation of the Real. Its operating profit was $258m, double that of 1994.
A reduction of sales and administrative costs due to the absence of new launches in 1995 appears to have directly affected the bottom line.
Y = Year, M = Months, * = pretax results. Currencies are converted into US dollars at average exchange rates during the reporting period. Per cent changes in local currenciencies. Source: Company reports, Reuters
Source: Airline Business
