Server: Microsoft-IIS/3.0 Date: Thu, 20 Nov 1997 15:49:01 GMT Content-Type: text/html Accept-Ranges: bytes Last-Modified: Tue, 11 Nov 1997 15:36:13 GMT Content-Length: 5615
Winning industry respect
By John Stearns
Reno Gazette-Journal
Expansion Ahead: Airline promises to continue aggressive growth
in the future. When Reno Air Inc. reported a loss of almost $14
million in 1994, industry experts didn't deploy their parachutes.
"Given the specialty of Reno Air, its region and the expansion
it has pursued, I see no reason it can't turn around", Kambiz
Raffiee, a University of Nevada, Reno economist and airline industry
specialist, said last March.
Turn around it did, by more than $15 million dollars.
The Reno-based airline's bottom line flew from red to black in
1995, its first annual profit. It reported operating income of
$3.6 million, and net income of $1.9 million.
To have a performance like (Reno Air) had in 1995 vs. 1994, that's
basically a major, major accomplishment" in a volatile industry,
Raffiee said.
Earnings | 1993 | 1994 | 1995 | |
Operating rev. | $124.6 mil | $195.5 mil | $256.5 mil | |
Operating exp. | $132 mil | $209.4 mil | $252.9 mil | |
Operating income | ($7.3 mil) | ($13.9 mil) | $3.6 mil | |
Net Income | ($7.3 mil) | ($14 mil) | $1.9 mil | |
Earnings per share | ($1.06) | ($1.73) | .18 | Stock price fully diluted |
|
Operation | 1993 | 1994 | 1995 |
Revenue Passengers | 1.8 mil | 3.4 mil | 3.9 mil |
Load Factor | 57.5% | 60.6% | 62.9% |
Employees | 1,153 | 1,483 | 1,600 |
Stock Price | $6.625 | $3.75 | $7.875 |
Planes | 17 | 20 | 24 |
Cities Served | 1993 | 1994 | 1995 |
11 | 15 | 16 |