Air Transport World

ASA REPORTS EARNINGS DROP.

Delta Connection Atlantic Southeast Airlines reported net income for the year ended Dec. 31, 1997, of $54.5 million on revenues of $385.3 million compared with earnings of $56.6 million for 1996.

Net income per share for 1997 was $1.81 on 30.1 million weighted average shares outstanding compared with $1.83 per share on 31.0 weighted average shares outstanding for 1996. The decrease in average shares outstanding was due to shares repurchased during the year under the company's stock-repurchase program.

Included in the 1997 results were an after-tax charge of $1.7 million for expenses related to the return of the company's fleet of BAe 146s to the lessor and an after-tax charge of $700,000 for training and start-up expenses associated with the introduction of the CRJ, of which the airline took delivery of five in the latter half of 1997, placing four of the 50-seat jets into revenue service in the fourth quarter. …

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