The company's efforts to make its passenger business more profitable have been successful. In 1985 Swissair generated an operating surplus of over $11 million. In addition, the company's two vacation charter subsidiaries, Balair and CTA, turned in equally good performances. A third Swissair subsidiary, Swissair Associated Companies, Ltd., did well enough in 1985 to offer dividend for the first time. The Associated Companies division controls (to various degrees) 29 subsidiaries of its own, including hotels, catering services, tour packagers, business consultants andinsuranceand real estate companies