P.M. BRIEFING : Northwest Profits Up 39% in ’89
ST. PAUL, Minn. — Northwest Airlines had a $22.6-million operating loss in the fourth quarter of 1989 but showed strong growth in profits and revenues for the entire year, federal filings showed.
Northwest reported operating revenues of $1.64 billion in the fourth quarter.
The St. Paul Pioneer Press Dispatch reported today that for the year the airline said it had operating profits of about $272 million, up 39% from 1988. Operating revenues rose 16% to about $6.5 billion, according to preliminary figures the airline submitted to the U.S. Transportation Department.
The results are for the airline only, not Northwest’s parent company, NWA Inc., which was bought for $3.65 billion last year by a group headed by Al Checchi.
Northwest and the rest of the airline industry faced soaring fuel costs and heavy discounting in the fourth quarter.
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