World Air Holdings, parent of World Airways and North American Airlines, reported a net loss of $2.3 million for 2006, down from net income of $31.6 million the prior year, on a 4.9% rise in revenue to $825.7 million. WAH blamed the result on a 17% reduction in US military revenue and a 21% increase in maintenance costs at World, as well as a fine imposed by the US military in the second quarter for "not achieving minimum performance standards." The company has reached an agreement to be ...

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