Aeromexico was helped by US traffic growth, a stronger peso, and cuts of 600 employees and seven aircraft. Second-quarter net was $98m.

Air NZ improved 36% despite the Kobe earthquake and the temporary grounding of its B737s.

Alitalia's first-half loss was better than last year's, but the recovery was damaged by strikes which cost $49m. Debt rose $310m to $2.2b.

Ansett repaid A$250m of borrowings and suffered from domestic competition and international startup costs. Revenues were not disclosed.

Capacity rose 20% with slightly fewer employees. Austrian predicts a small profit for the year.

Crossair's profit slipped slightly despite a 13.3% increase in scheduled passengers to 1 million. Personnel numbers rose from 1,320 to 1,563.

Pay cuts helped Iberia make an operating profit of $150m, but the airline says the delay in EU approval for its state aid package has cost $59m.

Operating costs fell 9.7%. Revenues fell 7% due to the weak US$, lower yields and the withdrawal from Tokyo. Capital cost was one-sixth of 1994's.

Qantas made A$95m (US$70.7m) pretax on domestic and A$151m on international flights. It bought two B767-300s and a B737-400 and did A$218m of sale and leasebacks.

Operating profit rose 70% to $14m but the net loss almost doubled due to currency factors, the closure of Balair/CTA, and higher tax payments.

THY's first profit in nine years arose as interest costs halved to $24.7m. The revenue rise was only 14% in US dollar terms.

Virgin's loss widened due to 'difficult trading conditions' and the launch of Hong Kong and San Francisco. The company made $6.5m from selling aircraft options, down from $21.5m in 1992/3.

M = Month. H = Half. Y = Year. * = Pre-tax result. Currencies are converted into US dollars at average exchange rates during the reporting period. Per cent changes in local currencies.

Source: Airline Business