Air Transport World

Ansett Airways.

Ansett Airways suffered a major setback in its recovery plans, with losses in its 49% owned international operation rising 25.2% to A$57.2 million ($34.2 million) in the fiscal year ended June 30.

The heavy loss by Ansett International was largely expected, given its single focus on the crisis-ridden Asian region. Al's poor performance limited the group net profit to A$30 million, well below the A$l00 million target set by management for 1997-98.

However, the result represented a turnaround on the A$35 million loss for the previous financial year. …

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