Airline Companies Post Strong Earnings

Northwest Airline Corp. and Continental Airlines Inc. reported strong double-digit increases in second-quarter earnings on Monday, saying they are seating more passengers and cutting costs.

Northwest reported earnings up 94 percent on stronger traffic, lower interest costs and higher-than-expected revenues from Pacific operations.

The company earned $202.8 million, or $1.90 per share, compared with $104.8 million, or 96 cents per share, in the same quarter of 1995. Revenue at the nation’s fourth largest passenger airline was $2.54 billion, up 12 percent from $2.28 billion last year.

Continental earned $167 million, or $2.04 per share, up 64 percent, from $102 million, or $1.49 per share, last year.

Revenue at the sixth-largest passenger airline was $1.64 billion, up 11 percent from $1.48 billion.

For the first six months, net income for the Houston-based carrier was $255 million, up 254 percent from $72 million a year earlier. Earnings per share rose to $3.90 from $1.15.

Revenue rose to $3.13 billion from $2.89 billion, an increase of 8 percent. President and chief executive Gordon Bethune said the six-month results surpass any previous full year.