Newspapers / Piedmont Aviation Employee Newsletter / May 8, 1989, edition 1 / Page 1
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Volume 1 Number 9 USAir Group reports increases in first quarter income USAir Group has reported first quarter 1989 operating income of $57.7 million on revenue of $1.5 billion, up $53.6 million from $4.1 million on revenue of $1.2 billion for the first quarter of last year. Net income for the first quarter was $15.5 million, a $34.3 million improvement over a net loss of $18.8 million for the same quarter of 1988. INSIDE Pages USAir orders 18 more Boeing 737 jets plus piaces options on 36 more — for a total value of $1.7billion. USAir was born 50 years ago on May 12 as All American Aviation. Origi nally created to provide airmail service, All American Aviation’s Stinson Reliants snatched the mail from portable pickup stations for delivery throughout the Allegheny Mountain region of Pennsylvania, West Virginia, and eastern Ohio. | Page 3 Executive Vice President-Opera- tions Seth Schofield addresses the expanding role of middle manage ment in today’s USAir. Page 6 Flight attendant training for USAir'snew first class is in full swing as the June 15 start-up date draws near. Earnings per share for the first quarter of 1989 were 35 cents on 43.8 million shares. That compares with a loss of 43 cents per share on 43.2 million shares for the same period a year earlier. Chairman and President Ed Colodny said that the results for the quarter reflect significant improye- ments in yield at both USAir and Piedmont. “Last year’s merger with PSA resulted in expansion of long- haul link flying between the West Coast and the Midwest and Northeast and improved schedule efficiency, gen erating traffic flow beyond primary markets on both coasts,” Colodny said. Both USAir and Piedmont also bene fited during the quarter fi-om the dis ruption of most operations at Eastern Air Lines, which began March 4. In the first quarter of 1989 USAir had operating income of $4.0 million Continued on page 8
Piedmont Aviation Employee Newsletter
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May 8, 1989, edition 1
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