Viewing page 18 of 49

This transcription has been completed. Contact us with corrections.

NEW YORK AIRWAYS, INC.
COMPARATIVE STATEMENT OF PROFIT AND LOSS
For the Years ended December 31, 1953 and 1952

Operating Revenues:

[[3 Columned Table]]
|   | Year ended December 31, 1953 | Year ended December 31, 1952 (Revised) |
| Transportation: |   |   |
| United States mail (see Note 2) ....... | $1,216,803.00 | $131,661.00* |
| Passenger ............................. | 10,553.36 |   |
| Freight ............................... |  4,683.42 |   |
| Excess baggage ........................ |    110.95 |   |
| Non-scheduled transport services ...... |  7,724.26 |   |
| Other transportation .................. |  4,514.69 |   |
|     Total Operating revenues .......... | $1,244,389.68 | $131,661.00 | 

Operating expenses:
[[3 Columned Table]]
| Flying operations ..................... | $231,802.60 | $23,697.02 |
| Direct maintenance .................... |  214,981.87 |   8,379.55* |
| Depreciation -- flight equipment (see Note 3) ...... | 228,908.89 | 19,415.62* |
| Ground operations ..................... |  165,735.44 |  16,441.77 |
| Ground and indirect maintenance ....... |   87,583.42 |  12,653.97 |
| Passenger service ..................... |   11,552.52 |   |
| Traffic and sales ..................... |   26,645.41 |   |
| Advertising and publicity ............. |   17,169.27 |    3,138.21 |
| General and administrative ............ |  156,758.24 |   31,045.96* |
| Depreciation -- ground equipment ...... |   13,631.30 |    1.975.32 |
|     Total operating revenues........... | $1,154,768.96 | $116,746.89 |
|     Net operating profit .............. | $ 89,620.72 | $ 14,914.11 |

[[3 Columned Table]]
| Non-operating income (including interest and cash discounts) ..... | 16,685.71 | 2,687.91 |
|   | $106,305.43 | $17,602.02 |

[[3 Columned Table]]
| Non-operating expense (including interest and amortization of extension and development costs -- see Note 4) ..... | 58,064.28 | 14,317.95* |
|     Net profit for year (no provision for Federal income taxes necessary -- see Note 7) ..... | $ 48,241.15 | $  3,284.07 |

*After reclassification of adjustments credited to earned surplus in 1953, as shown on Statement of Earned Surplus herewith.

   See notes herewith  relating to financial statements which are an integral part of this statement.