FlightSafety International reports second quarter earnings, revenues.

LA GUARDIA AIRPORT, N.Y.--(BUSINESS WIRE)--July 17, 1995-- FlightSafety International (NYSE:FSI) today reported earnings and revenues for the second quarter and first six months ended June 30, 1995.

For the second quarter, net income was $20,913,000, equal to 67 cents per share compared to $18,539,000, or 58 cents per share, in the 1994 quarter.

Second quarter operating revenues were $79,394,000 as compared to $74,009,000 in the year earlier period. Included in these operating revenues were training revenues amounting to $74,805,000 vs. $67,231,000 in 1994 and product sales of $4,589,000 vs. $6,778,000 in 1994.

Depreciation and amortization amounted to $12,469,000 in the second quarter as against $11,581,000 in the 1994 quarter.

For the six months, net income was $41,077,000, equal to $1.31 per share, as compared to $34,738,000, or $1.09 per share, in the corresponding 1994 period.

Operating revenues, which consist of training revenues and product sales, totalled $157,225,000 for the first six months of 1995 vs. $147,255,000 in 1994. Training revenues for the first six months increased to $146,149,000 from $132,076,000 a year ago. Product sales amounted to $11,076,000 compared with $15,179,000 in 1994.

For the six months, depreciation and amortization amounted to $24,430,000 compared with $22,974,000 in the corresponding 1994 period.

A.L. Ueltschi, FlightSafety president and chief executive officer, said that training revenues were higher in all areas with particular strength in business aviation. Product sales declined due to reductions in commercial orders for new training equipment.

FlightSafety provides training annually for more than 40,000 pilots and maintenance technicians of major U.S. airlines, U.S. and foreign regional airlines, corporations, military and other government agencies at learning centers in the U.S., Canada, and France. The company has more than 150 flight simulators. -0-

                       FlightSafety International Inc.
                            Financial Highlights

                               For the Three Months ended June 30,
                                         1995           1994

Operating revenues:
 Training                             $74,805,000      $67,231,000
 Product sales                          4,589,000        6,778,000
 Total                                 79,394,000       74,009,000

Operating income:
 Training                              28,570,000       25,518,000
 Product sales                            921,000          978,000
 Total                                 29,491,000       26,496,000

Income before income taxes            31,838,000       28,777,000
Net income                            20,913,000       18,539,000
Earnings per share                      67 cents         58 cents
Depreciation and amortization         12,469,000       11,581,000
Weighted average shares outstanding   31,333,121       31,759,226

                                   For the Six Months ended June 30,
                                         1995           1994

Operating revenues:
 Training                            $146,149,000     $132,076,000(1)
 Product sales                         11,076,000       15,179,000
 Total                                157,225,000      147,255,000

Operating income:
 Training                              54,504,000       48,281,000
 Product sales                          2,082,000        1,987,000
 Total                                 56,586,000       50,268,000

Income before income taxes            61,323,000       54,301,000
Net income                            41,077,000       34,738,000
Earnings per share                          1.31             1.09
Depreciation and amortization         24,430,000       22,974,000
Weighted average shares outstanding   31,327,275       31,877,554

(1) Training revenues for 1994 included approximately $1.9 million
related to an equivalent amount of retroactive salary and benefit
expenses from Oct. 1, 1992 paid to employees in accordance with the
United States Government Services Contract Act on one of the
company's contracts.

CONTACT: FlightSafety International

Ken Motschwiller, 718/565-4140