Asian airlines raise profits

Asian airlines raise profits

SINGAPORE (AFP): The 15-member Orient Airlines Association
(OAA) yesterday reported a threefold annual jump in combined net
profits to US$1.3 billion in fiscal year 1994-95.

The OAA, which will admit Asiana Airlines of South Korea as
its 16th member at an annual assembly of presidents in Brunei on
Saturday, said in a statement that total operating revenues of
current members were up 16.2 percent to $45.12 billion.

The OAA, based in Manila, is a trade association of Asia-
Pacific carriers. It said the addition of Asiana's 39 aircraft
would bring the number of carriers in the group to 1,060.

OAA members carried a total of 164 million passengers in the
1994-95 fiscal year, up 6.7 percent, and 4.8 million tons in
freight, an 11.8 percent improvement. They employed a total of
194,572 people.