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BURLINGTON AIR EXPRESS EARNS $8 MILLION SECOND QUARTER OPERATING PROFIT

 IRVINE, Calif., July 20 /PRNewswire/ -- Burlington Air Express earned an impressive $8.0 million pre-tax operating profit in the quarter ended June 30, up from $2.9 million for the same quarter last year.
 Burlington's global operating profit for the first half totaled $9.5 million, the company's highest results in its history for the January-to-June period, according to David L. Marshall, chairman and chief executive officer. This compared to $1.7 million for the same six months last year.
 "This significant improvement is the result of productivity gains, fleet modernization and volume growth," said Marshall.
 Overall, revenues rose 9 percent from a year-ago quarter to $240.3 million. Domestic U.S. revenues grew 3 percent, while Burlington's international revenues increased by 15 percent. International transactions accounted for 55 percent of Burlington's worldwide revenue.
 "Burlington's first half revenues were up $51 million, or 12 percent over the first half of last year. This is no small achievement in a world still hampered by slow economies in parts of the U.S., Asia and Europe," Marshall explained. "We have outgrown virtually all of our competition. This has been achieved by the desire of Burlington people and agents around the world to provide competitive advantage for our customers.
 "Burlington realized several important achievements during the first half of 1993, most notably the fleet modernization program which replaced our B707 aircraft with seven Stage III DC8-71s, and the beginning of operations with our new agent, Aeroflash, to provide expanded services within Mexico. We also strengthened our worldwide network with the addition of offices in Eastern Europe, and we signed a letter of intent to start operations next year in China. Burlington's logistics services are expanding, as we begin providing our expertise to major multinational companies, like General Motors," said Marshall.
 The new Pittston Services Group (NYSE: PZS), which includes Burlington Air Express, Brink's and Brink's Home Security, and which started trading on the New York Stock Exchange last week, reported after-tax net income of $11 million, or $0.30 per share, compared with $5.0 million, or $0.13 per share, in the second quarter last year.
 Burlington Air Express Inc. is a $900 million worldwide cargo express and global logistics company headquartered in Irvine, specializing in transportation services to business-to-business shippers. Burlington offers overnight and second-day air freight delivery to virtually every major U.S. and Canadian business community, and international air freight, ocean forwarding and customs brokerage worldwide.
 Burlington is a subsidiary of The Pittston Co.
 -0- 7/20/93
 /CONTACT: Raquel Garcia of Burlington Air Express, 714-752-1212, ext. 2310/
 (PZS)


CO: Burlington Air Express Inc.; Pittston Services Group;
 The Pittston Co. ST: California IN: AIR TRN SU: ERN


BP-JB -- LA021 -- 3440 07/20/93 14:04 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
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