World Airways Holdings reports falling third-quarter profits

Nearly five months after its fiscal third quarter concluded, World Air Holdings, parent of World Airways and North American Airlines, reported it earned a $5.5 million profit in the three months ended Sept. 30, 2005, a 22.5% drop from the $7.1 million earned in the corresponding 2004 period. The acquisition of NAA in April 2005 affected World Airways' business and any comparisons to the year-ago period. Although revenues climbed 68.1% to $217.2 million, expenses surged 79.3% to $206.9 ...