Aloha Air posts $6.9M
operating gain in July

The profit doubles June’s
total and is the third straight
positive month

Aloha Airlines, whose bankruptcy is closing in on its one-year anniversary, posted an operating gain of $6.9 million in July to easily record its best month since filing for Chapter 11 last December.

The carrier's third profitable month in a row also marked its fourth monthly operating gain under the protection of the federal Bankruptcy Court. The company has been seeking interested investors but has not announced any agreement yet.

Aloha, which isn't required by the court to disclose comparable numbers from a year earlier, generated revenue of $45.4 million, $5 million better than in June. The operating profit in July was double the previous month's gain of $3.4 million.

Net income in July was $4.5 million.

The airline had operating expenses in the month of $38.4 million, including fuel costs of $9.8 million.

Since filing for bankruptcy, Aloha has an operating loss of $5.6 million and a net loss of $12 million. Revenue during the first seven months of the year is $271.4 million.