ITRADE
Veteran
About $90MM net loss - significantly better than 2002.
http://biz.yahoo.com/prnews/040206/dcf004_1.html
http://biz.yahoo.com/prnews/040206/dcf004_1.html
Q4 Results In
- Thread starter ITRADE
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zonecontroller
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- Sep 3, 2002
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U-Air
The cost of aviation fuel per gallon, including taxes, for the fourth quarter, was 87.74 cents (82.54 cents excluding taxes), up 4.9 percent from the same period in 2002.
Southwest Airlines
Fuel and oil expense per ASM increased 4.5 percent, primarily due to a 6.3 percent increase in the average jet fuel cost per gallon. The average cost per gallon of jet fuel in 2003 was 72.3 cents compared to 68.0 cents in 2002
It is difficult to compete when we pay $00.15 / gallon more for Jet fuel.
Nice Hedge Work!
Fire Him To!!!
Info Source
The cost of aviation fuel per gallon, including taxes, for the fourth quarter, was 87.74 cents (82.54 cents excluding taxes), up 4.9 percent from the same period in 2002.
Southwest Airlines
Fuel and oil expense per ASM increased 4.5 percent, primarily due to a 6.3 percent increase in the average jet fuel cost per gallon. The average cost per gallon of jet fuel in 2003 was 72.3 cents compared to 68.0 cents in 2002
It is difficult to compete when we pay $00.15 / gallon more for Jet fuel.
Nice Hedge Work!
Fire Him To!!!
Info Source
blueoceans
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- Nov 15, 2002
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Yeah, excluding unusual items, loses are down to only about a million and a half dollars a day....not too bad.
OldGuyinPA
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- Aug 20, 2002
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Nice spin...
So we lost $129 million and sold an asset(hotwire) for $30 million= $99 million loss
Way to go guys....Numbers and percentages mean whatever ....You go David
So we lost $129 million and sold an asset(hotwire) for $30 million= $99 million loss
Way to go guys....Numbers and percentages mean whatever ....You go David
Werent several of us chastized on here just a few short month ago about this not being that big a deal in the scheme of things and the chances of losing money just as great? Well at .15 a gallon, I'd say some more hedging would have paid off. Are we leaving the middle east any time soon? Is OPEC suddenly ready to flood the market? Maybe this is something that can be addressed for this year? (Even a little more than it is already :unsure: )zonecontroller said:
[/QUOTE]Yeah, excluding unusual items, loses are down to only about a million and a half dollars a day....not too bad.
Might as well be $5 million a day. Unless Siegel gets a viable business plan in place and increases revenues, it just isn't going to matter.
Might as well be $5 million a day. Unless Siegel gets a viable business plan in place and increases revenues, it just isn't going to matter.
genejockey
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- Aug 22, 2002
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Excerpt from press release:
"US Airways Group ended the quarter with total restricted and unrestricted cash of approximately $1.84 billion, including $1.29 billion in unrestricted cash, cash equivalents and short-term investments.
"We have maintained modestly positive cash flow and strong liquidity since emerging from Chapter 11 last year; however, we still face great challenges from a cost perspective," said Neal S. Cohen, US Airways executive vice president of finance and chief financial officer."
Those numbers and positive cash flow are absolutely crucial. In my opinion this good news, and contradicts previous information of $1 million per diem cash burn. Why does UAIR continue to report CASM excluding fuel?
"US Airways Group ended the quarter with total restricted and unrestricted cash of approximately $1.84 billion, including $1.29 billion in unrestricted cash, cash equivalents and short-term investments.
"We have maintained modestly positive cash flow and strong liquidity since emerging from Chapter 11 last year; however, we still face great challenges from a cost perspective," said Neal S. Cohen, US Airways executive vice president of finance and chief financial officer."
Those numbers and positive cash flow are absolutely crucial. In my opinion this good news, and contradicts previous information of $1 million per diem cash burn. Why does UAIR continue to report CASM excluding fuel?
BoeingBoy
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- Nov 9, 2003
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genejockey,
As I've said before, I'm no financial guru. Having said that, here's my take.
I think the "million a day" is somewhat semantics - losses of $90+ million for the quarter is a million a day loss. "Cash burn" may not be the technically accurate terminology, but I presume that those using it mean "losing" money, not necessarily cash flow.
Also, the Hotwire sale netted $30 million, which is part of cash flow. Obviously, US can't sell that every quarter. Would we have been "cash flow positive" without that item?
Jim
As I've said before, I'm no financial guru. Having said that, here's my take.
I think the "million a day" is somewhat semantics - losses of $90+ million for the quarter is a million a day loss. "Cash burn" may not be the technically accurate terminology, but I presume that those using it mean "losing" money, not necessarily cash flow.
Also, the Hotwire sale netted $30 million, which is part of cash flow. Obviously, US can't sell that every quarter. Would we have been "cash flow positive" without that item?
Jim
Adding back depreciation and amortization to the operating loss, I do not get a positive number that would indicate a positive cash flow. I not convinced they were cash positive this quarter on an earnings basis; of course, they could have delayed paying a bunch of bills until Jan 2 - that would do it on a cash flow basis.genejockey said:
They report CASM excluding fuel because fuel is lately considered a non-managable (so why are they hedging?) variable and shouldn't reflect on the performance of the company's management. It's ok to gag a little at this explanation.
blueoceans
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- Nov 15, 2002
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It would be nice to see a statement of cash flows.
Depreciation and amortization adds back in 54mil. Accounting change 5 is some paper charge pulling out another 99mil. Any accountants in here??
Depreciation and amortization adds back in 54mil. Accounting change 5 is some paper charge pulling out another 99mil. Any accountants in here??
ClueByFour
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- Aug 20, 2002
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Because the U executive suite has had a horrid track record with the fuel hedges "relative to the industry" and it would make things look as bad as they actually are, from a CASM standpoint.genejockey said:
genejockey
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- Aug 22, 2002
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My point was that I think at some point, you have to consider some things as positive. And for US Airways, apparently they did not burn cash since emerging from BK. What was Cohen's statement?....something to the effect...US Airways has had moderately positive cash flow since emerging from BK. I personally perceive that as being positive in leiu of all of the negatives. 
