Air Transport World

MIDWAY CONTINUES COMEBACK

Midway Airlines, the Raleigh/Durham-based Regional, reported second-quarter net income for 1998 of $5.3 million on revenues of $55.7 million, an 18% increase over the 1997 period, reflecting the highest quarterly earnings in the independently owned company's history and the seventh consecutive profitable quarter. The figures represent a 35% increase over the second-quarter-1997 net income of $3.9 million.

The company's operating margin rose to 16.9% in the second quarter of 1998 from 13.6% in the year-earlier period, while the net, after-tax margin increased to 9.5% from 83%.

On a unit basis, RASM rose 4.8% to 14.4[cent] compared to 13.7[cent] in the second quarter of 1997. …

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