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METRO AIRLINES ANNOUNCES FIRST QUARTER RESULTS

 METRO AIRLINES ANNOUNCES FIRST QUARTER RESULTS
 DALLAS, Sept. 9 /PRNewswire/ -- Metro Airlines, Inc. today announced


financial results for the fiscal first quarter ended July 31, 1992. Operating revenues were $29.9 million, and net income was $689,000, or 11 cents per primary share (8 cents per share fully diluted). A year ago, first-quarter revenues were $30.6 million, and net income was $2.7 million, or 44 cents per primary share (33 cents per share fully diluted). Metro and its subsidiaries filed for protection under Chapter 11 of the United States Bankruptcy Code on April 1, 1991.
 Metro Airlines, one of the nation's largest regional airlines, operates as American Eagle and serves 23 cities from a hub at Dallas/ Fort Worth International Airport.
 METRO AIRLINES, INC.
 (In thousands, except per share amounts)
 Three months ended July 31: 1992 1991
 Revenues $29,873 $30,553
 Income before income taxes
 and extraordinary item 745 2,772
 Provision for income taxes 350 1,015
 Income before extraordinary item 395 1,757
 Extraordinary item (A) 294 927
 Net income $ 689 $ 2,684
 Per share (primary):
 Before extraordinary item $ .06 $ .29
 Extraordinary item (A) .05 .15
 Net income $ .11 $ .44
 Per share (fully diluted):
 Before extraordinary item $ .05 $ .22
 Extraordinary item (A) .03 .11
 Net income $ .08 $ .33
 Common shares outstanding
 (weighted average):
 Primary 6,114 6,114
 Fully diluted 8,140 8,140
 (A) Utilization of net operating loss carryforward.
 -0- 9/9/92
 /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


PS -- NY026 -- 7446 09/09/92 11:01 EDT
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Date:Sep 9, 1992
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