Texas Air's other airline subsidiary, Continental Airlines, also reported a loss for the quarter, although it was much smaller than the one a year earlier.

But its airline subsidiary had $2.6 billion in liabilities and $1.6 billion of assets.

The airline subsidiary accounted for $77.6 million of the 1992 second-quarter loss, compared with $52.3 million in the comparable period of 1991.

The company operates one regional airline subsidiary: Mesa Airlines, and five supporting subsidiaries.

Air Midwest, its 3rd airline subsidiary, was shut down in 2008.

Eastern has also sold planes to other airlines and to Continental, Texas Air's other major airline subsidiary.

He has agreed to buy 400 new planes, has expanded routes to Europe and has set up a low-cost airline subsidiary.

Westair Holding Inc. said it would merge its two regional airline subsidiaries to cut costs.

In May 2011, Singapore Airlines revealed plans to launch a low-fare airline subsidiary within a year.

Operations of the German and French airline subsidiaries were not affected, however.