Turnover up 15 per cent to £802.3 million last year. Profit before interest and exceptional items of £46.1 million
Disposal of non-core assets generated £27.8 million, including sale of 90 per cent of Airmotive to Lufthansa (the company only retains a 10 per cent stake).
Net loss for the year £45.9 million, mainly due to £90.4 million provisions, mostly for sale of TEAM and a total exceptional write-off of £89.2 million.
Operating losses at TEAM of £1.4 million, down from £5.6 million.
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Passenger numbers up 10 per cent to 5.3 million.
Passenger load factor up 2 per cent to 75 per cent.
Employees' share of profits is £4.6 million, up £600,000.
Shareholders' funds reduced to £152.8 million, down from £190.6 million in 1996.
