Reported by Star-Bulletin staff & wire
Wednesday, June 17, 1998
Aloha Airlines sees profits skyrocket
Aloha Airlines Inc. had a profit of $1.8 million in the first quarter of 1998, about 12 times greater than the $151,000 profit in the year-earlier period.Aloha said the better performance was due mostly to lower fuel costs. Like the other airlines using Hawaii's airports, Aloha also gained from the state's September move to drop airport landing fees for two years.
Revenues were up 2.6 percent at $59 million, from $57.5 million in the 1997 quarter. The airline trimmed its expenses for the quarter by 2.1 percent, reporting operating costs of $56.2 million for the latest quarter, compared with $57.4 million in the year-earlier period.
As a private company, Aloha doesn't report its finances publicly but does file them with the U.S. Department of Transportation. Its federal report covers only Aloha Airlines, not its commuter affiliate Island Air or its parent Aloha Airgroup Inc.
Northwest reaches pact with machinists
MINNEAPOLIS -- Northwest Airlines Corp. has reached a tentative contract agreement with its machinists' union, which the airline had accused of a work slowdown that caused hundreds of flight delays and cancelations.The agreement between Northwest Airlines and its largest union now goes to the union's members for approval. Talks are still ongoing with five other unions, including the pilots' union. Northwest and the International Association of Machinists reached the accord yesterday during a one-day negotiating session.
In other news . . .
PALO ALTO, Calif. -- Computer workstation maker Silicon Graphics Inc. has unveiled a supercomputer it said is twice as fast as its current models. The new Cray SV1 series has a peak performance of four billion calculations a second.
See expanded coverage in today's Honolulu Star-Bulletin.
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