Air Transport World

The long road back. (CCAir)

The South may not rise again but CCair is one piece of the South to recover from near-extinction. This Charlotte, N.C.-based USAir Express operator has been profitable since emerging from Chapter 11 bankruptcy protection last September.

CCAir carried 205,745 passengers and earned a modest $211,055 net profit for the quarter ended Dec. 31, the first net profit it ever recorded in December. It is a significant gain when compared with previous losses of $1.6 million and $ 1.1 million for December, 1989 and 1990, respectively. Moreover, it is noteworthy because very few carriers have or are expected to emerge from Chapter 11 bankruptcy in today's economy. For 1992-93, CCAir is forecasting operating revenues of $54 million and $57 million, respectively, and operating profits of $1. …

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