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METRO AIRLINES ANNOUNCES SECOND QUARTER RESULTS

 METRO AIRLINES ANNOUNCES SECOND QUARTER RESULTS
 DALLAS, Dec. 4 /PRNewswire/ -- Metro Airlines, Inc. (NASDAQ: MAIRC)


today announced financial results for the second quarter and six months ended Oct. 31, 1991.
 For the second quarter, operating revenues were $30.2 million, and net income was $2.9 million, or 48 cents per primary share (36 cents fully diluted). For the six months, operating revenues were $60.8 million, and net income was $5.6 million, or 92 cents per primary share (69 cents fully diluted). For the comparable periods of last fiscal year, second-quarter operating revenues were $61.9 million, and the net loss was $2.0 million, or 32 cents per share. For the six months ended Oct. 31, 1990, operating revenues were $124.0 million and the net loss was $16,000.
 The decline in operating revenues and improvement in operating results are primarily attributable to the disposal of company operations in the southeastern and northeastern United States and the Caribbean. Metro and two of its subsidiaries filed for protection under Chapter 11 of the United States Bankruptcy Code on April 1, 1991.
 Metro Airlines is a regional airline which operates as American Eagle, serving 25 cities from its Dallas/Fort Worth hub.
 METRO AIRLINES, INC.
 (In thousands, except per share amounts)
 Three months ended Oct. 31: 1991 1990
 Operating revenues $ 30,208 $ 61,944
 Income (loss) before
 extraordinary item 1,939 (1,259)
 Extraordinary item (A) 1,005 (712)
 Net income (loss) 2,944 (1,971)
 Per share (primary):
 Before extraordinary item $.32 ($.20)
 Extraordinary item (A) .16 (.12)
 Net income (loss) $.48 ($.32)
 Per share (fully diluted):
 Before extraordinary item $.24 ($.20)
 Extraordinary item (A) .12 (.12)
 Net income (loss) $.36 ($.32)
 Common shares outstanding
 (weighted average):
 Primary 6,114 6,114
 Fully diluted 8,140 6,114
 Six months ended Oct. 31: 1991 1990
 Operating revenues $60,761 $123,991
 Net income (loss) before
 extraordinary item 3,696 (16)
 Extraordinary item (A) 1,932 --
 Net income (loss) 5,628 (16)
 Per share (primary):
 Before extraordinary item $.60 --
 Extraordinary item (A) .32 --
 Net income $.92 --
 Per share (fully diluted):
 Before extraordinary item $.45 --
 Extraordinary item (A) .24 --
 Net income $.69 --
 Common shares outstanding
 (weighted average):
 Primary 6,114 6,112
 Fully diluted 8,140 6,112
 (A) -- Utilization (reversal) of net operating loss carryforward
 -0- 12/4/91
 /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/
 (MAIRC) CO: Metro Airlines Inc. ST: Texas IN: AIR SU: ERN


12:56 -- NYS? -- 9228 12/04/91 12:59 EST
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Date:Dec 4, 1991
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