World Air Holdings, parent of World Airways and North American Airlines, reported first-quarter net income of $3.5 million, a drop from net income of $9.9 million in the first quarter of 2005. The company, which finally reported its full-year 2005 earnings last month (ATWOnline, July 11), continues to play catch-up with its financial reporting. Delays in filing required financial reports led to its de-listing by Nasdaq. First-quarter operating income fell 45.3% to $9.4 million, "primarily ...

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