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COMAIR HOLDINGS DOUBLES EARNINGS IN THIRD QUARTER AND ANNOUNCES STOCK OFFERING

 CINCINNATI, Jan. 28 /PRNewswire/ -- COMAIR HOLDINGS, INC., (NASDAQ/NMS: COMR), the parent corporation of Comair, Inc., the Cincinnati and Orlando, Fla. based "Delta Connection" airline, reported third quarter net income of $6.2 million on revenues of $66.1 million. Earnings for the first nine months of fiscal 1993 were $11.5 million, or $.93 per share.
 The Comair Holdings, Inc. board of directors also declared a $.07 per share cash dividend for shareholders of record on Feb. 8, 1993 payable Feb. 17, 1993.
 The company also announced that a registration statement has been filed with the Securities and Exchange Commission relating to a proposed public offering of 1,750,000 shares of its common stock. All of the shares will be offered by the company. The proceeds of the offering will be used to finance a portion of the costs of acquiring the Canadair Regional Jets and related support equipment and, to a lesser extent, Comair's costs related to its new terminal facilities at the Cincinnati/Northern Kentucky International Airport.
 Alex. Brown & Sons Incorporated and Kidder, Peabody & Co. Incorporated will underwrite the offering.
 A Registration Statement relating to the common stock has been filed with the Securities and Exchange Commission but has not yet become effective. The common stock may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
 This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of any state.
 Comair Holdings, Inc.'s comparable third quarter and nine months results are as follows (in 000's):
 Third Quarter Ended
 December 31
 1992 1991
 Passenger revenues $62,622 $50,820
 Other revenues 3,495 3,650
 Total revenues $66,117 $54,470
 Operating costs 55,778 49,272
 Operating income $10,339 $ 5,198
 Net nonoperating income (expense) (94) (119)
 Income before income taxes $10,245 $ 5,079
 Income taxes 4,088 2,031
 Net income $ 6,157 $ 3,048
 Weighted average number of shares 12,291 12,163
 Net income per share $ .50 $ .25
 Dividends paid per share $ .07 $ .067
 Operating Statistics:
 Passengers 623,381 513,391
 ASM's (000's) 301,807 254,262
 RPM's (000's) 142,643 113,004
 Load factor (pct) 47.3 44.4
 Breakeven load factor (pct) 39.8 40.5
 Yield (cents) 43.9 45.0
 Cost per ASM (cents) 17.6 18.4
 Nine Months Ended
 December 31
 1992 1991
 Passenger revenues $169,440 $148,285
 Other revenues 10,267 11,283
 Total revenues $179,707 $159,568
 Operating costs 160,575 145,930
 Operating income $ 19,132 $ 13,638
 Net nonoperating income (expense) (73) (385)
 Income before income taxes $ 19,059 $ 13,253
 Income taxes 7,602 5,298
 Net income $ 11,457 $ 7,955
 Weighted average number of shares 12,287 12,160
 Net income per share $ .93 $ .65
 Dividends paid per share $ .21 $ .201
 Operating Statistics:
 Passengers 1,815,113 1,557,799
 ASM's (000's) 885,933 759,353
 RPM's (000's) 411,709 337,315
 Load factor (pct) 46.5 44.4
 Breakeven load factor (pct) 41.5 41.0
 Yield (cents) 41.2 44.0
 Cost per ASM (cents) 17.3 18.2
 -0- 1/28/93
 /CONTACT: Gloria M. Weber, director, corporate communications, Comair Holdings, Inc., 606-525-2550/
 (COMR)


CO: Comair Holdings, Inc. ST: Ohio IN: AIR SU: ERN OFR

BM -- CL024 -- 0468 01/28/93 16:54 EST
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Date:Jan 28, 1993
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