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U.S. Airways Feb Loss US$76 Mil - Up 25% From Jan  
User currently offlineSingapore_Air From United Kingdom, joined Nov 2000, 13756 posts, RR: 18
Posted (13 years 2 months 7 hours ago) and read 2639 times:

U.S. Airways Group Incorporated has announced a February operating loss of US$76 million - up 25% from the loss announced in January. That was an operating loss excluding interest expenses and reorganisational items. January's operating loss was US$101.3 million.

Operating revenue fell 1% though to US$473.8 million. Including the aforementioned excluded items, the airline posted a US$98.7 million loss for Feburary, up US$700 000 from January.

U.S. Airways has emerged from Chapter 11 bankcruptcy.

More information at the Reuters / Yahoo website

Information was gathered from the above hyperlinked webpage. Full information can be viewed by clicking the above hyperlinked webpage. Information was rephrased and not copied and pasted unlike others with the exception of quotes.

[Edited 2003-04-04 00:04:14]

Anyone can fly, only the best Soar.
5 replies: All unread, jump to last
User currently offlineSingapore_Air From United Kingdom, joined Nov 2000, 13756 posts, RR: 18
Reply 1, posted (13 years 2 months 7 hours ago) and read 2631 times:

February 2003 had 28 days.

U.S. Airways posted a net loss per day of US$3 525 000.
U.S. Airways posted an operating loss per day of US$2 714 285.71 (2 decimal places)

Anyone can fly, only the best Soar.
User currently offlineGigneil From United States of America, joined Nov 2002, 16347 posts, RR: 79
Reply 2, posted (13 years 2 months 6 hours ago) and read 2536 times:

I don't understand... it sounds like they lost LESS in Feb, not more.

Right? That would make the loss down, not up.


User currently offlineUsairways85 From United States of America, joined Nov 2001, 3813 posts, RR: 6
Reply 3, posted (13 years 2 months 6 hours ago) and read 2529 times:

I think he meant the loss went up as in -98.7 million up from -101.3 million

User currently offlineNeednewairport From United States of America, joined Jan 2002, 235 posts, RR: 0
Reply 4, posted (13 years 2 months 5 hours ago) and read 2506 times:

The No. 7 U.S. airline said its operating loss, which excludes interest expenses and various reorganization items, totaled $75.8 million in February, down from $101.3 million in January. Operating revenues fell less than 1 percent to $473.8 million from $477 million.

So they are losing less, doing better

Fly the flag

User currently offlineN628AU From United States of America, joined Oct 2000, 357 posts, RR: 0
Reply 5, posted (13 years 2 months ago) and read 2450 times:

Also this company was particularly hard hit by weather. 10 of the 28 days saw significant weather impact on the system, equating to lost revenue and increased expenses in overtime and deicing. The Northeast was shut down for all intent and purpose over the President's weekend. I had family stuck in Maine for four days, and to get back to CLT had to fly to CAE and I picked them up. Not very bad all things considered. Also, jet fuel was about $1.20 a gallon in February (I believe they had some hedging, but probably very little), and it is now at about 80 cents per gallon. That is a 33% decline for those of you in Rio Linda, CA. Costs should also decrease as some restructuring costs are now gone, such as lawyers fees, and the last of the employee severance should be over shortly. Barring unforseen events (prolonged war in Iraq or another terror attack), things should be getting better soon.

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