WORLD AIRWAYS REPORTS $3.1 MILLION 3Q LOSS

WORLD AIRWAYS REPORTS $3.1 MILLION 3Q LOSS

   World Airways, the Virginia-based lessor of MD-11 and DC-10-30 passenger
and cargo planes, reported a net loss of $3.1 million in the third quarter, compared to a
$1.5 million loss last year.
   The struggling airline blamed a 110.3-percent increase in fuel costs,
from $3.5 million to $7.3 million, and a 10.7 percent increase in flight
expenses, from $18.5 million to $20.5 million. Revenue was flat at $67.5 million.
   Year-to-date, World’s net loss has reached $8.9 million, on a 3.8
percent decrease in revenue to $200.3 million. In the first nine months
last year, World lost $7.6 million.