Loss Reported $78 Million

[700UW]

Educate

UPDATE - US Airways has 3rd-qtr loss, fuel hedging costs

US Airways Group, Inc. Reports Third Quarter Results
Thursday October 26, 8:00 am ET
Highlights of the New US Airways Group, Inc. Third Quarter 2006 results:
* The Company reported a third quarter 2006 net loss of $78 million or $0.88 per diluted share, which includes special items of $179 million.

 

[soc-hpjester]

700 , I think it depends on which media source you ask.
The way I read it, we made $101 million.

 

[longing4piedmont]

Educate

UPDATE - US Airways has 3rd-qtr loss, fuel hedging costs

US Airways Group, Inc. Reports Third Quarter Results
Thursday October 26, 8:00 am ET
Highlights of the New US Airways Group, Inc. Third Quarter 2006 results:
* The Company reported a third quarter 2006 net loss of $78 million or $0.88 per diluted share, which includes special items of $179 million.

Your continued refusal to accept the facts does not surprise me. I would think that the IAM would want a member of the negotiating committee to be at least versed in basic business principles.

If I were a member of the IAM, I would be all over Tempe wanting to know when the members were going to benefit from the 3rd straight quarter of record profits, especially when the IAM leaders gave up so much at the table to start with. But instead it appears that IAM is willing to accept the premise of a loss rather than an operating profit. Looks like the general members are about to get screwed by their leadership again........

Oh BTW, how is the job search coming?

 

[HPearlyretiree]

You don't know me, I posted a press release, how is that bitter?

You posted the subject of the thread, saying kiss your profit sharing goodbye.

I know you by your work here, and you are an angry entitlement whiner.

 

[TechBoy]

Having said all that, the hedging charge isn't that troubling to me personally for 2 reasons - first it appears that it's only an accounting entry and not real money going out the door, and second that even WN incurred a sizable charge for hedging.

More telling to me is Clue's other point - merger expenses. Senior management has missed their forecast in this area every quarter this year, and not to the good side. If they don't have a good handle on this expense catagory, even when the 3rd quarter forecast came out 3 days before the end of the quarter, what message does that send.....

The hedging charge is more than an accounting entry. Right now, that is what it is, but when the contracts come due, they will have to be settled with cash. So it is a real charge and a real loss. It appears that management has decided to take the charge now for their hedging errors rather than report it next quarter as part of their operating costs. I find that a bit misleading. When the hedges pay off, they do not report it as a special gain so why should it be reported as a special loss when they do not pay off.

That said, it appears as if US is doing fairly well under the circumstances.

 

[BoeingBoy]

Correct, as far as my limited understanding goes, TechBoy. What my poor explanation meant was that if those hedges that haven't expired get back in the money (oil goes up), some/all of this charge could be reversed next quarter. If they don't, and oil goes even lower, there could be additional charges next quarter.

Apparently there's a whole "mark to market" thing that goes on at the end of each quarter, plus hedges that are deemed "ineffective" are no longer allowed to use favorable accounting rules. It looks like between those two - marking to market and some hedges no longer capable of being classified as effective - the charge ensued.

Jim

 

[Fly4Free]

I'm sorry.. but I just have to open my mouth. It's a real shame that people are behaving they are on this board. I have never seen such disrespect and negativity posted and sling fights back and forth. Please, I know it's not a perfect world, but try to control your feelings. SHEESH.

On the other hand, both of you guys are correct.. there was a loss if you calculate certain expenses that don't get counted normally when you release earnings statements, according to Doug Parker.

 

[azfyer]

“Yup here comes fuzzy Acct. that US is great for, you'll see that 250 last qtr, get eaten away....LOL..â€￾


“Bye bye profit sharing! I knew these weasels would do this. Just freeg'n great! I hope the KoolAid drinkers enjoyed the latest kick to the groin!

The cba's forced upon us in bankruptcy, require a full year of profits to be shown...I doubt these creeps will let an operational profit count.â€￾


“Gee, I guess it is a good thing the managers already got their BONUSES!â€￾

“Time for a raise for Doug and his gang of thieves in Tempe.â€￾

YOU PEOPLE ARE SOMETHING ELSE!!!
EVERYBODY had better start really saving their money NOW. By the way MOST of you sound on this board, you may succeed in possibly driving the NEW US Airways into yet ANOTHER bankruptcy and even liquidation. (Which is what SHOULD have happened to the OLD US Airways!!!)

Oh...that's right...America West stepped in and SAVED ALL of you!!! :angry:

Yeah Yeah Yeah...no need to say how Dough has said that AW MAY have had to file BK if it were not for the merger. MAY is the key word. Will fuel prices falling, slowly, but falling, HP probably would have been just fine. Had we let the OLD US go belly up...that would have been even more help full, not only to HP but everyone else in the industry. Especially the employees that WANT to work!!!

 

[Travelpro72]

Boy oh boy....after that last post I just have to scratch my head....Thank you almighty America West for saving me from the unemployment line. Thank you for stating that we should have gone belly up. You are a bitter and Horribly misinformed individual. Think as you must though. We at the original US shall drop to your knees and kiss your boots. How greatfull we all are...Thank you again. It's funny...I have the star alliance screen saver on my computer. The majority of the white dots that represent US are on the east. I'm just glad that many of your fellow employees over there have been pretty cool and realize that we are all in this together and don't think badly of the other. Grow up and get educated my friend.

 

[LCC_#1]

“

YOU PEOPLE ARE SOMETHING ELSE!!!
EVERYBODY had better start really saving their money NOW. By the way MOST of you sound on this board, you may succeed in possibly driving the NEW US Airways into yet ANOTHER bankruptcy and even liquidation. (Which is what SHOULD have happened to the OLD US Airways!!!)

Oh...that's right...America West stepped in and SAVED ALL of you!!! :angry:

Yeah Yeah Yeah...no need to say how Dough has said that AW MAY have had to file BK if it were not for the merger. MAY is the key word. Will fuel prices falling, slowly, but falling, HP probably would have been just fine. Had we let the OLD US go belly up...that would have been even more help full, not only to HP but everyone else in the industry. Especially the employees that WANT to work!!!

Easy Skippy!!!!

I was at the meeting today and there is NOT a more concerned employee group. People speak out here in frustration. DP stated that the airline wasn't being ran well and that it was the fault of management. He said it. I bare witness. He took a beating as the employees here were brutally honest. DP was gracious and answered the best he could considering the consensus felt the pains and frustrations of whats going on. One gentleman kept apologizing to DP and DP told him it was ok..thats why we are here. BTW, the same man thanked DP for better communication on the field.

This is my opinion. A year ago I was excited. I was excited because INVESTORS...lured in by the OLD US AIRWAYS CEO...saw value in a US/AWA marriage. This OUTSIDE money consimated this merger. I resent your tone just because people are venting. In a years time, my faith in managements ability to lead has popped the bubble. The bad news is that our numbers have fallen. The good news is that DP has taken responsibility. Now he must follow through.

Today I am hopeful, but FRUSTRATED!! I just want this team to understand that THEY are going the way of the OLD US AIRWAYS...NOT the OLD US EMPLOYEES!! THAT, azfyer, is why so many are sooo angry. Your guy is acting at times no differently than the OLD regime that was at the OLD US. Do you realize how frustrating it is to see the same actions of the OLD US being ran by the letter. YOU SHOULD BE THANKFUL THAT THE OOOOOOLD US HAS YOUR KOOLAID DRINKING AASS!! You should be INSULTED that management has failed the company by adopting the OLD management style and THANKFUL that someone is standing up AND getting angry.

I like DP. I like DP because he acknowledges when he is wrong. THAT is a leader. BUT, leaders must be held accountable. Yes, I will be the first to admit that many here need anger management classes...me as well, but there is NOTHING wrong with holding ALL management to the standards they hold the rest of us to. When we shut up,THAT'S when you need to worry.

 

[ringmaruf]

By the way MOST of you sound on this board, you may succeed in possibly driving the NEW US Airways into yet ANOTHER bankruptcy and even liquidation. (Which is what SHOULD have happened to the OLD US Airways!!!)

Oh...that's right...America West stepped in and SAVED ALL of you!!! :angry:

Yeah Yeah Yeah...no need to say how Dough has said that AW MAY have had to file BK if it were not for the merger. MAY is the key word. Will fuel prices falling, slowly, but falling, HP probably would have been just fine.

On a standalone basis, America West reported a net profit excluding special items of $3 million for the third quarter 2006

US Airways reported a net profit excluding special items of $109 million on a standalone basis for the third quarter 2006

 

[Seatacus]

I think Exxon should buy US with about 1/10th of their 3Q profit. They could sell US their own fuel and makes millions.

 

[PhxMama]

On a standalone basis, America West reported a net profit excluding special items of $3 million for the third quarter 2006

US Airways reported a net profit excluding special items of $109 million on a standalone basis for the third quarter 2006

I really dont want to get into this but would US have been around to realize a profit if it had not been for the investors and the merger? That includes HP and DP. I know everyone is frustrated. I know I am and the east and west walls have got to fall. I was hoping that by this time most everyone would be over some of this. Apparently not. Try to stay informed and voice your opinion but remember all of our badges say US. We have a long road ahead of us and we need to pull together to fight not our management team, but our competitors, We need to work with everyone in this company to make it work. Its OUR company. Yes, we need to make DP and company take responsibility for problems and we need to give him credit when credit is due. This is a large airline and there will always be problems, especially in this industry. I like DP. Do I trust him? NO, but I dont trust people I dont know. Do I think he is trying to make this company succeed? Yes. Do I think he has his own interests at heart? Yes, wouldnt you? Has DP kept his cool? Yes, but sometimes I wouldnt blame him it he didnt, some treat him personally like garbage and if he did the same it would really light up this board. I still say its too soon to really say what the outcome will be but right now a year later, we still have jobs and a profit. Lets hope it continues.... to be continued.

 

[polkadot1]

You're worried about the *East*?

On a standalone basis, America West reported a net profit excluding special items of $3 million for the third quarter 2006

US Airways reported a net profit excluding special items of $109 million on a standalone basis for the third quarter 2006

Nice to hear they are making money. Too bad they cannot pay more to the new hires, or at least a decent wage. 7.52 an hour is more than an insult. That is what I was told they would pay me if I take the CAR position.

Too bad they did not tell me that on the phone when they called me for an interview, as I told them I was interested in the Ticket Agent.

Guess they must be really hard up in that department huh?

What a joke !!!!! :down:

 

[BoeingBoy]

I was hoping that by this time most everyone would be over some of this. Apparently not.

PhxMama,

I suspect most are over this. Further, I suspect that most never gave much thought to who bought who, who saved who, who's better than who, which side is lazier, etc.

Don't let a few that can't let it go make you believe that the vast majority are like them.....

Jim