first quarter loss

ITRADE

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Aug 19, 2002
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DCA/IAD US2
Yanking out all the special items, US lost about $260 million. US would have done much better had fuel not increase nearly 40 percent.

US did substantially cut its costs; but cut revenues at the same time.

We'll see how things shake out - Q2 is usually US's best quarter. With the war over, with $200MM coming in in Congressional aid, with fuel prices falling, US might have a decent quarter.
 
"However, if we do not see improvements in traffic and yield, we may be forced to make some modest fleet reductions in September to further protect the airline''s financial position."


Oh goodie! Here we go again.
 
I wonder if my mortgage company will let me skip a few payments because I had to take a "one time charge" for a massive paycut?
 
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You have to laugh at the headline:






































Reuters
US Airways Posts Profit on Restructuring
Tuesday May 6, 5:35 pm ET

CHICAGO (Reuters) - US Airways Group Inc. (OTC BB:USALA.OB - News) reported a $1.63 billion first-quarter profit on Tuesday after its bankruptcy reorganization helped reduce its costs
 
Does this mean we get the 5% back!?!? LOL Funny how the media spins things!

Reuters
US Airways posts quarterly profit on restructuring
Tuesday May 6, 5:29 pm ET


CHICAGO, May 6 (Reuters) - US Airways Group Inc. (OTC BB:USALA.OB - News) reported a $1.63 billion first-quarter profit on Tuesday after its bankruptcy reorganization helped reduce its costs.
US Airways, which emerged from bankruptcy on March 31, showed a pretax loss of $282 million for the quarter.

One year earlier, the Arlington, Virginia-based airline posted a loss of $269 million, or $3.97 per share.

US Airways, the No. 7 U.S. airline, has slashed its annual costs by about $2 billion since last summer, which includes about $1 billion in cuts extracted from its labor unions.

US Airways'' first-quarter revenue fell to $1.5 billion from $1.7 billion a year earlier, as it shrunk the size of its operations.
 
We'll never know the full cost of this winter. The snowstorms (not just Presidents Day weekend) were terrible, the ramp-up and the actual war, raising the alert level to orange and resultant Patriot missiles around DCA, terrorist threats, ELAL missile attack, fuel at $40/bbl, recession, operating in bankruptcy, fear of traveling anywhere, hype by the so called news outlets, etc...

Maybe the worst is over but I still see the fleet going to 240. Dave will figure that you can always grow it back if needed. I used to be an optimist but now...
 

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