Newspapers / Piedmont Aviation Employee Newsletter / Oct. 1, 1983, edition 1 / Page 1
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News about Piedmont. The Up-And-Coming Airline. Henson'sfleet is getting a new paintJob in Pied mont colors as the air line prepares toJoin us this month, eventually to become a wholly-owned subsidiary. The Pied mont Regional Airline has afleet of six 50-pas senger deHavilland Dash -7 turboprops, six 15-pas senger Beechcrcft 99 turboprops, andfour 30- passenger Shorts 330 turboprops. Henson, which serves 15 airports, has 52 departures daily at BWI. PKDnmnr Btcmnm m/oi tns Henson-Piedmont combination 'a winner' Henson Aviation will begin flying in Piedmont colors on October 30 when the regional airline officially becomes part of the Piedmont family. Henson’s fleet of 16 aircraft is getting a new paint job with Hen son in bold red lettering on the side and the Piedmont Regional Airline along with our logo on each air craft’s tail. But a new look is just one of the many changes taking place at Hen son this month. Our reservations offices are now booking passengers on Henson, and Piedmont’s new system timetable incorporates Henson’s schedule with ours. We’re handling customer service, ground handling, and air freight at many locations where we both provide service. And we’re conducting training sessions for Henson and Piedmont station managers in loca tions where both airlines operate. At BWI in particular where Henson has 52 departures daily, schedules have been tailored for connections with Piedmont’s 36 flights. “At BWI, we’ll be doing customer contact work at the ticket counter for Henson,” Allen Perry, director- station administration, said. “We’ll also take care of any mishandled baggage and air freight. Henson will perform their own customer contact at our gates and ground handling." Henson has purchased four buses, each with a 50-passenger capacity, for its BWI operation. The commuter’s buses will taxi from under Piedmont’s concourse to a point about one-half mile away for passengers to board flights. The Eiirline will have a holdroom on the ground level of our concourse. “I think it’s going to be a fantastic operation,” Peny said. "What 1 really like is that passengers wiU board the buses under our concourse near our operations area where they’ll stay warm and dry in bad weather.” At BWI, connecting times between Henson and Piedmont flights will be just 25 minutes. “The standard time most airlines allow for connections at BWI is 35 minutes,” Quentin Bondurant. schedule emalyst, INT, said. “Our standard connecting time for our flights as well as those with Henson is just 25 minutes.” Henson provides nonstop, round- continued page 3 system timetable incorporates station administration, said. We 11 like is that passengers wiu Doara Sale of tax credits boosts earnings for third quarter nf For the first nine months of this vice president-finance. credited Morton said income taxes we Piedmont reported earnings of $25,046,000 or $ 1.88 per share for the third quarter, a 45.2 percent increase over the same period in 1982 when we had earnings of $ 17,255,000 or $ 1.61 per share. Operating revenues for the quar ter rose to $241,016,000 from $180,746,000 for the same period a year earlier, or a gain of 33.4 per cent. Operating costs and expenses were up 27 percent for the quarter to $212,410,000. For the first nine months of this year. Piedmont reported earnings of $13,683,000 compared to $26,099,000 a year earlier. Operat ing revenues grew 27 percent to $624,979,000 and operating costs and expenses rose 28.1 percent to $595,083,000. Our operating income for the third quarter was $28.6 million, a substantial improvement over the $13.5 million reported for the same period in 1982. T. W. Morton, senior vice president-finance, credited strong traffic growth, an increase in passenger fares, and lower fuel prices for the improvement. In addition, Morton saJd that almost $13 million was derived from the sale of tax benefits under so-called safe harbor leases during the third quarter of this year. Pied mont’s net income before taxes was up 280 percent from the $8.4 mil lion reported in 1982 to $31.9 mil lion this year. Morton said income taxes were $6.9 million in 1983, versus a credit of $8.9 million last year. Net income after taxes was up 45 percent from the $ 17.3 million reported in 1982 to $25 million in 1983. Morton also added that traffic and fare trends indicate that Pied mont will experience continued improvement in earnings for the fourth quarter.
Piedmont Aviation Employee Newsletter
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Oct. 1, 1983, edition 1
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