Southern Air operating loss falls to $1.23 million for January

By Jim Witters

Wilmington, Del., March 15 - Southern Air Holdings, Inc. posted a $1.23 million operating loss for January on revenue of $25.99 million, according to the company's monthly operating report filed March 15 with the U.S. Bankruptcy Court for the District of Delaware.

Those figures compare to a $19.28 million operating loss for December on revenue of $25.74 million.

The net loss for January was $6.05 million, down from $14.19 million in December.

The company also reported cash and cash equivalents of $6.29 million as of Jan. 31, down from $7.38 million at the end of December.

Southern Air, a Norwalk, Conn.-based cargo carrier, filed for bankruptcy on Sept. 28 under Chapter 11 case number 12-12690.

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