People Express Reports Record Profits for Period

Newark, N.J.-based People Express posted record third-quarter earnings of $16.5 million, compared to $6.8 million in the third quarter of 1984.

Operating revenue for the quarter totaled $269.6 million, up from $174.8 million in the comparable quarter of 1984.

A spokesman for the company said the carrier “is extremely pleased with the record results for the quarter. It is especially gratifying to have results such as these in spite of the negative impact of Hurricane Gloria in September. We estimate that Gloria cost the company in excess of $3.5 million in lost revenue and increased costs.”