Despite increases in its load factor and traffic, AirCal Inc. said Thursday that it "continued pricing and other competitive actions during the first quarter of 1986 that will result in a loss for the quarter."
The regional carrier said it expects to report results for the first quarter of 1986 by mid-April. A year ago AirCal reported net income of $2 million for the first quarter. For all of 1985, the airline posted net income of $9.3 million, a 9% increase from net income of $8.5 million for the prior year.
The airline said it flew 138 million revenue passenger miles in February, a 16.9% gain from 117.8 million revenue passenger miles for the same month a year earlier. A revenue passenger mile represents one paying customer carried one mile.
The Newport Beach-based company said the load factor, or percentage of seats sold, was 54.2% last month, compared to 52.9% for the same period last year.
For the first two months of 1986, the regional carrier said revenue passenger miles totaled 287.3 million, an 18.5% gain from 242.4 million for first two months of 1985.
Load factor for the first two months was 53.4%, the airline said, compared to 50.3% for the comparable period last year.