Business Briefs

Reported by Star-Bulletin staff & wire

Wednesday, July 17, 1996

JAL's Hiroshima-Honolulu charter to continue for four weeks

U.S. aviation authorities have allowed Japan Airlines to operate a weekly round-trip charter flight between Hiroshima and Honolulu for four more weeks, Japan Transport Ministry officials said today.

JAL wanted a scheduled service on the route but because of an ongoing U.S.-Japan aviation dispute it had to settle for temporary charter approval, which would have expired today.

The Japanese government responded to the U.S. approval by saying it would allow United Airlines to continue flying seven extra flights per week between Tokyo and Los Angeles for four weeks after the existing permit expires next Monday.


GTE profit increases 10 percent for quarter

STAMFORD, Conn. - GTE Corp. today reported a 10 percent jump in second-quarter profit, citing strong growth in its wireline and wireless telephone businesses.

The company, parent of GTE Hawaiian Tel, reported a net income of $642 million, or 66 cents a share, compared with $581 million, or 60 cents a share, in the same period a year ago.

Revenues grew 7 percent in the quarter to $5.29 billion, compared with $4.93 billion a year ago.

GTE's profit met Wall Street expectations.


BankAmerica reports 12 percent profit gain

SAN FRANCISCO - BankAmerica Corp.'s second-quarter earnings rose 12 percent, as higher fees and lower costs offset sluggish lending profits.

The nation's third-largest bank and parent company of Bank of America-Hawaii reported that its net income rose to $723 million, or $1.84 a share, from $645 million, or $1.56, a year earlier.

The earnings exceeded the average forecast of $1.79 a share in an IBES International Inc. survey of 23 analysts.


For more local, national and international business news,
see the Hawaii Inc. section in today's Honolulu Star-Bulletin.



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