People Express Inc. reported a $27.5-million loss...

People Express Inc. reported a $27.5-million loss for the year ended Dec. 31. The company, which operates People Express and Frontier airlines, said its revenue for the year was $977.9 million. The company attributed the loss in part to expenses incurred with its acquisition of Frontier last November. People Express also reported that, for the full year, People Express Airlines increased its operating profit to $33.3 million, up from $20.2 million in 1984.