Delta to take large write-offDelta Air Lines said...


April 16, 1993

Delta to take large write-off

Delta Air Lines said yesterday that it will take an $82.5 million write-off in the January-March quarter to pay for the retirement of 21 jets and severance payments for 600 pilots who will be laid off.

Delta said last month that it would retire 21 Airbus A310 aircraft as part of a streamlining of its European operations, which will eliminate some unprofitable flights.

Avemco profit up 11.2%

Avemco Corp. of Frederick said profit from operations rose 11.2 percent, as net premiums written increased on higher retention of marine policies and short-term health premiums.

The underwriter of general aviation property and casualt insurance had profit from operations of $4.1 million, or 35 cents a share. A gain of $943,000, or 8 cents a share, from accounting changes resulted in net income of $5.1 million, or 43 cents a share. A year earlier, Avemco had earnings of $3.7 million, or 32 cents a share.


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