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METRO AIRLINES, ANNOUNCES RECORD ANNUAL NET INCOME

 METRO AIRLINES, ANNOUNCES RECORD ANNUAL NET INCOME
 DALLAS, July 6 /PRNewswire/ -- Metro Airlines, Inc. (OTC) today


announced record annual net income of $6.3 million, or $1.04 per primary share (78 cents fully diluted), for the fiscal year ended April 30, 1992 on operating revenues of $116 million. For the prior year, the Company had a net loss of $36.7 million, or $6.01 per share, on operating revenues of $204 million. The decline in operating revenues and improvement in operating results are primarily attributable to the disposal of Company operations in the southeastern and northeastern U.S. and the Caribbean. Metro and its subsidiaries filed for protection under Chapter 11 of the United States Bankruptcy Code on April 1, 1991.
 Metro's previous record annual net income, $4.1 million, was achieved in the year ended April 30, 1987.
 Metro Airlines, one of the nation's largest regional airlines, operates as American Eagle, serving 24 cities from its Dallas/Fort Worth hub.
 METRO AIRLINES, INC.
 Summary of Financial Information
 (In thousands, except per share amounts)
 Years ended April 30: 1992 1991
 Operating revenues $116,281 $204,236
 Operating income (loss) 4,937 (11,928)
 Income (loss) before income taxes
 and extraordinary item 6,529 (36,446)
 Provision for income taxes 2,651 283
 Income (loss) before extraordinary item 3,878 (36,729)
 Extraordinary item (A) 2,458 --
 Net income (loss) $ 6,336 $(36,729)
 Per share (primary):
 Before extraordinary item $ .64 $ (6.01)
 Extraordinary item (A) .40 --
 Net income (loss) $ 1.04 $ (6.01)
 Per share (fully diluted):
 Before extraordinary item $ .48 $ (6.01)
 Extraordinary item (A) .30 --
 Net income (loss) $ .78 $ (6.01)
 Common shares outstanding
 (weighted average):
 Primary 6,114 6,113
 Fully diluted 8,140 6,113
 (A) Utilization of net operating loss carryforward.
 -0- 7/6/92
 /CONTACT: Brian K. Miller chief financial officer of Metro Airlines, 214-453-4400 or Larry Howell of Howell Communications, 214-340-9994, for Metro Airlines/ CO: Metro Airlines Inc. ST: Texas IN: AIR SU: ERN


LR -- NY017 -- 6593 07/06/92 11:41 EDT
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Date:Jul 6, 1992
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