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STATESWEST ANNOUNCES FIRST QUARTER RESULTS

 PHOENIX, Feb. 23 /PRNewswire/ -- StatesWest Airlines Inc. announced a net loss of $1,162,000, or $.12 per share for its first fiscal quarter ended Dec. 31, 1992, compared with a net loss for the quarter ended Dec. 31, 1991, of $1,445,000, or $.25 per share. Total operating revenues for the current quarter were $5,532,000, a 9.8 percent decrease over revenues of $6,131,000 during the first quarter of the prior year.
 StatesWest operates under code-share agreements with both USAir and Northwest Airlines feeding flights for the total travel network for USAir, and flights to the Pacific Rim system for Northwest Airlines. Traffic flows through the hub cities of Los Angeles and San Francisco. The airline operates approximately 4,000 monthly departures serving passengers in 13 western cities.
 The following is a summary of the first quarter results for the fiscal years 1992 and 1991.
 STATESWEST AIRLINES
 Financial Results
 First Quarter
 (Unaudited)
 Dec. 31,
 1992 1991
 Operating revenues (000) $5,532 $6,131
 Operating expenses (000) 5,930 7,102
 Operating loss (000) (398) (971)
 Net loss (000) (1,162) (1,445)
 Net loss per common share ($.12) ($.25)
 Average shares outstanding 9,874,156 6,267,005
 1992 1991 Percent Change
 Passenger enplanements 81,929 89,381 -8.3
 Available seat miles
 (ASM) (000) 28,752 33,512 -14.2
 Revenue passenger
 miles (RPM) (000) 12,087 14,730 -17.9
 Load factor (percent) 42.0 44.0 -2.0 pts.
 -0- 2/23/93
 /CONTACT: Rudy R. Miller or Mary A. Nance of StatesWest Airlines, 602-225-0504/


CO: StatesWest Airlines Inc. ST: California IN: AIR SU: ERN

EH-BP -- LA015 -- 9376 02/23/93 11:27 EST
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Publication:PR Newswire
Date:Feb 23, 1993
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