The sale of Pacific Southwest Airlines to...

The sale of Pacific Southwest Airlines to USAir Group allowed PS Group, formerly PSA Inc., to report $58 million in net income for the second quarter of 1987, contrasted with a $6.8 million net loss during the second quarter of 1986. PS Group reported $50 million in net income for the first half of 1987, contrasted with a $16.7 million net loss for the first half of last year.

PS Group’s continuing operations generated an $857,000 loss for the second quarter, contrasted with a $7.5 million loss a year ago. PS Group’s continuing operations reported a $3.3 million loss for the first half, compared to a $9 million loss a year ago.

Revenue from continuing operations rose 19% to $79 million for the second quarter and 2% to $163 million for the first half.

PSA, which was a PS Group subsidiary until the end of May when it was sold to USAir, reported a $743,000 net loss for the first five months of 1987, contrasted with a $7.7 million net loss for the first half of 1986.

PS Group retained its energy production and distribution businesses after the sale of the airline.