AirCal Net for ’85 Up 9% Despite 4th-Quarter Loss
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Despite a hefty fourth-quarter loss--its first in more than two years--AirCal said that it managed to post moderately improved net earnings of $9.3 million for the 12 months ended Dec. 31, up 9% from $8.5 million in 1984.
The Newport Beach-based airline said its 1985 revenues rose 13% to $344.5 million from $304 million in 1984. For the fourth quarter, AirCal posted a net loss of $4.8 million, compared to a $2.4-million profit for the like period of 1984. Revenue for the quarter dipped 4% to $76.3 million from $79.9 million.
One factor that accounted for the improved annual performance, the company said, was increased sales stemming from the strike against United Airlines in May and June.
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