Earnings per share fell from 44 cents to 15 cents.

Earnings have fallen from more than 50 cents a share last year to 20 cents a share now.

Net loss fell to 2 cents a share, from 3 cents a year earlier.

Its fourth-quarter loss fell to $400,000, or 1 cent a share, from $6.5 million, or 11 cents, a year earlier.

Calculated per share, the figure fell to 50 cents from 68 cents.

The company reported that its first-quarter earnings fell to 50 cents a share, from 53 cents in the comparable 1986 period.

Five years ago, average revenue paid by each passenger on the nation's airlines had fallen to 11.08 cents a mile from 12.74 cents in 1981.

But yield fell 2.9 percent, to 13.37 cents, from 13.77 cents a year earlier.

Wage scales for unskilled labor fell from 16.1 cents to 13 cents an hour.

Over the same period, federal support fell from 16 cents per dollar to less than 11.