MAIR Continues Dramatic Losses

MAIR Holdings, Inc. reported a net loss of $2.5 million, or $0.17 per diluted share, for the fiscal 2008 second quarter ended September 30, compared to a net loss of $2.5 million, or $0.12 per share, during the same quarter a year ago. The number of the company’s shares of common stock outstanding decreased by 5.7 million owing to a March 2007 purchase of shares from Northwest Airlines. The company attributed the net loss to $3.4 million of operating losses at Big Sky Airlines and MAIR. Big Sky’s losses were impacted by start-up expenses for its new Boston-based expansion in partnership with Delta Air Lines as well as higher than expected fuel expenses.