Jazz Net Down 14.2 Percent

Jazz reported net income down 14.3 percent to $30.3 million on operating revenue of $396.4 million, which was up 8.8 percent. It received $3.9 million in performance incentives which was up 25.8 percent. Controllable cost per available seat mile dropped 2.6 percent, despite rising fuel and maintenance costs. Jazz reported maintenance increases cost $2.1 million while pilot and maintenance training cost $500,000 and passenger inconvenience payments were $400,000. The company expects increased heavy maintenance costs and overtime will abate by the beginning of the third quarter. For a complete report see the next issue of Regional Aviation News.