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YX Posts Profit!  
User currently offlineN917ME From United States of America, joined Feb 2005, 730 posts, RR: 1
Posted (8 years 1 month 4 weeks 1 day 2 hours ago) and read 3014 times:

MILWAUKEE (AP) - Midwest Air Group, owner of Midwest Airlines and Midwest Connect, said Thursday it swung to a profit in the second-quarter, as a rise in passenger traffic helped offset soaring fuel expense.


Net income totaled $8.8 million, or 39 cents per share, compared to a loss of $8.2 million, or 47 cents per share during the same period last year. Revenue grew 34 percent to $176.9 million, from $131.6 million in the same quarter of 2005a.


More passengers and higher fares offset higher fuel costs, the company said.


Passenger traffic grew 28.6 percent due in part to competitive pricing, the company said, while fuel expense increased 49.4 percent.


Midwest Airlines saw passenger revenue per scheduled service available seat mile grew 19.8 percent in the second quarter. Each revenue passenger mile is equal to one paying passenger flown one mile. Load factor, or occupancy, grew 7.4 percentage points as traffic grew 29.8 percent on an 18.1 percent increase in capacity.


Cost per available seat mile (unit costs) at Midwest Airlines increased $0.0042 to $0.1151, or 3.8 percent, compared with second quarter 2005. Excluding fuel, cost decreased $0.0055 to $0.0727, or 7.0 percent.


Midwest Connect saw passenger revenue per scheduled service available seat mile grow 13.2 percent. Traffic climbed 12.8 percent on a 1.6 percent increase in capacity, resulting in load factor growth of 7.1 percentage points.


Cost per available seat mile increased $0.0449 to $0.2960, or 17.9 percent. Excluding fuel, the increase was $0.0299 to $0.2212, or 15.6 percent compared with second quarter 2005.


In premarket trading, Midwest Air Group rose 60 cents, or 12 percent, to $5.50.

31 replies: All unread, showing first 25:
 
User currently offlineVivavegas From United States of America, joined Apr 2004, 505 posts, RR: 1
Reply 1, posted (8 years 1 month 4 weeks 1 day 2 hours ago) and read 3002 times:

Tim seemed down right giddy during last quarters conference call with the anticipation of this (mostly do to great loads). I do not see why this can't continue through the 3rd quarter if they can successfully navigate September. I have noticed they have really cranked up the September marketing recently.

FWIW, on the Yahoo! board, bluehorseshoe is reporting the acquisition of up to two more D328's (unknown origin).

Good news all around.

Craig
MKE



MKE / EYW / LAS - The true trifecta of aviation!
User currently offlineDaus From United States of America, joined May 2005, 288 posts, RR: 0
Reply 2, posted (8 years 1 month 4 weeks 1 day 1 hour ago) and read 2953 times:

Good to see. If they could just get fuel in line, this might not be such a bad business. Any idea if they break out profitability between Signature and Saver?

User currently offlineGeg2rap From United States of America, joined Sep 2003, 851 posts, RR: 0
Reply 3, posted (8 years 1 month 4 weeks 1 day 1 hour ago) and read 2904 times:

good for them, I really love their service, and MSP sure has grown from them
from 3x d328 to 5x 717(weekday)
of course signature looks great compared to the other guy in town


User currently offlineVivavegas From United States of America, joined Apr 2004, 505 posts, RR: 1
Reply 4, posted (8 years 1 month 4 weeks 1 day 1 hour ago) and read 2904 times:

Quoting Daus (Reply 2):
Any idea if they break out profitability between Signature and Saver?

Tune-in @ 1p this afternoon, they generally give some color about that.

Quote:
The airline holding company will release the results before the stock market opens on Thursday, July 27, 2006. Company management will then discuss the results in a conference call with industry analysts and institutional investors at 2 p.m. Eastern time the same day. The discussion will be available simultaneously in a listen-only mode and for the following 30 days at http://phx.corporate-ir.net/phoenix.zhtml?c=88626&p=irol-irhome

Craig
MKE



MKE / EYW / LAS - The true trifecta of aviation!
User currently offlineKnope2001 From United States of America, joined May 2005, 2916 posts, RR: 30
Reply 5, posted (8 years 1 month 4 weeks 1 day 1 hour ago) and read 2882 times:

Not only is this a profitable quarter, but they now have a net profit for the *year* of $120,000. Not much, but the second quarter has more than erased the losses in the first quarter. They should make money this quarter (3), and then as long as the 4th isn't awful they'll be in the black for the entire year. It has been a long time coming!

Various messages have said the company is well on the way to meeting the goal of at least $1 in profit for 2006, and it's good to see it wasn't just a bunch of blown smoke.


User currently offlineCOERJ145 From United States of America, joined Jun 2005, 1421 posts, RR: 1
Reply 6, posted (8 years 1 month 4 weeks 1 day ago) and read 2832 times:

yay, good for YX!!!!

User currently offlineNWCOflyer From United States of America, joined Jun 2003, 690 posts, RR: 13
Reply 7, posted (8 years 1 month 4 weeks 22 hours ago) and read 2761 times:

This is good news for all of us that work at YX. It really makes a difference to see that our hard work is paying off. Hopefully we will be profitable for the rest of the year.


The New American is arriving.
User currently offlineVivavegas From United States of America, joined Apr 2004, 505 posts, RR: 1
Reply 8, posted (8 years 1 month 4 weeks 20 hours ago) and read 2701 times:

A couple of random notes from today's conference call:

- $99.0 mil in unrestricted cash, up from $90 mil in Q2 and $84.3 y/y.

- $2.25/g avg fuel, up 30% y/y

- Buy on Board meals - "consistently profitable"

- Fuel Hedges: 25.1% Q3'06 - 24.8% Q4'06 - 18.x% Q1'07 - 9.4% Q2'07

- Web Sales: 31.1% of sales were online, down 1.9% y/y

Fleet Info:

- Terminated 1 lease on a B1900

- Took delivery of final B717 for a total of 25

- Looking to replace all MD's, timing would depend on what path they took. For new both manufacturers are saying 2008, if they went with something used it would be late 2007. Will make a decision by end of year.

- Looking for additional D328's, will replace all B1900 aircraft in time.


No too exciting, only two questions from analysts (one did not know they discontinued the B717 from Boeing, gotta love those aviation analysts!).

Craig
MKE



MKE / EYW / LAS - The true trifecta of aviation!
User currently offlineDaus From United States of America, joined May 2005, 288 posts, RR: 0
Reply 9, posted (8 years 1 month 4 weeks 20 hours ago) and read 2692 times:

Quoting Vivavegas (Reply 8):
one did not know they discontinued the B717 from Boeing, gotta love those aviation analysts!).

I'm listening to the replay now.... The 'Analysts' were pathetic, only a couple questions. I think the female analyst from Benchmark actually giggled a couple times.  Smile


User currently offlineLonghaulheavy From United States of America, joined Dec 2003, 402 posts, RR: 2
Reply 10, posted (8 years 1 month 4 weeks 20 hours ago) and read 2692 times:

Great news for a great bunch of folks. Keep up the good work, YX'ers.

User currently offlineMke717spotter From United States of America, joined Dec 2005, 2458 posts, RR: 4
Reply 11, posted (8 years 1 month 4 weeks 18 hours ago) and read 2637 times:

Good to hear! Heard that things were lookin up at YX and I guess this proves it atleast for now.


Will you watch the Cleveland Browns and the Detroit Lions on Sunday? Only if coach Eric Mangini resigned after a loss.
User currently offlineTVNWZ From United States of America, joined Feb 2006, 2391 posts, RR: 2
Reply 12, posted (8 years 1 month 4 weeks 13 hours ago) and read 2523 times:

Quoting Vivavegas (Reply 8):
- $99.0 mil in unrestricted cash, up from $90 mil in Q2 and $84.3 y/y.

This is the most important number. 10% increase in unrestricted cash is excellent under these conditions.

Quoting Vivavegas (Reply 8):
- Looking to replace all MD's, timing would depend on what path they took. For new both manufacturers are saying 2008, if they went with something used it would be late 2007. Will make a decision by end of year.

I vote used. The MD-80s bring down the whole airline IMHO.

A very good report from YX. Keep it up.


User currently offlinePropilotJW From United States of America, joined Mar 2000, 589 posts, RR: 6
Reply 13, posted (8 years 1 month 4 weeks 11 hours ago) and read 2478 times:

Congrats Midwest! Great News for the airline

User currently offlineLonghaulheavy From United States of America, joined Dec 2003, 402 posts, RR: 2
Reply 14, posted (8 years 1 month 4 weeks ago) and read 2394 times:



User currently offlineSideflare75 From United States of America, joined May 2005, 613 posts, RR: 1
Reply 15, posted (8 years 1 month 3 weeks 6 days 21 hours ago) and read 2348 times:

Quoting Vivavegas (Reply 8):
Looking to replace all MD's, timing would depend on what path they took. For new both manufacturers are saying 2008, if they went with something used it would be late 2007. Will make a decision by end of year.



Quoting TVNWZ (Reply 12):
I vote used. The MD-80s bring down the whole airline IMHO.

I know everyone wants the MD-80's to go away but if the difference between getting new planes and someones used ones is less than a year wouldn't it be better to wait for the new???
Latest rumor around here that I heard says used MD-83's so we will still have MD-80s just some with more range.
Thoughts?


User currently offlineNWCOflyer From United States of America, joined Jun 2003, 690 posts, RR: 13
Reply 16, posted (8 years 1 month 3 weeks 6 days 20 hours ago) and read 2317 times:

Quoting Sideflare75 (Reply 15):

Latest rumor around here that I heard says used MD-83's so we will still have MD-80s just some with more range.
Thoughts?

No, it has been stated frequently by management that it will either be Airbus or Boeing (the 320 family or the 737 family). The MD-80 has not been mentioned once.



The New American is arriving.
User currently offlineSideflare75 From United States of America, joined May 2005, 613 posts, RR: 1
Reply 17, posted (8 years 1 month 3 weeks 6 days 20 hours ago) and read 2290 times:

Quoting NWCOflyer (Reply 16):
No, it has been stated frequently by management that it will either be Airbus or Boeing (the 320 family or the 737 family). The MD-80 has not been mentioned once.

It has around the maintenance hangar. Matter of fact at a talk with Tim he mentioned used MD-80's as a possibility. Supposed to be 12 -83's sitting in the desert waiting for a new home, and Boeing was just here trying to find them one. Anything is possible.
But if they were to go with 737's or 320's why not wait less than one more year for new? Warranties are a wonderful thing.


User currently offlineConcentriq From United States of America, joined Jan 2005, 368 posts, RR: 0
Reply 18, posted (8 years 1 month 3 weeks 6 days 19 hours ago) and read 2277 times:

They better post profit!!! I just paid $250 for R/T MKE-CLE. Highest i ever paid! usually $176 or lower. Jokes aside, its great news!


Mobilis In Mobili
User currently offlineTVNWZ From United States of America, joined Feb 2006, 2391 posts, RR: 2
Reply 19, posted (8 years 1 month 3 weeks 6 days 15 hours ago) and read 2214 times:

Quoting Sideflare75 (Reply 15):
I know everyone wants the MD-80's to go away but if the difference between getting new planes and someones used ones is less than a year wouldn't it be better to wait for the new???

Actually, no. In fact I am not waiting. Because of consistantly horrendous delays caused by mx and sloppy dispatching procedures on these planes, I now fly the Red Tail to PHX, TPA, and LAS. And I am a big fan of the airline. But, reliability is job one and being able to get to these places on business reliably is my job one. Sorry, I won't come back until they get new planes. So I vote used.

Yank something reliable out of the desert and let's get going.


User currently offlineSideflare75 From United States of America, joined May 2005, 613 posts, RR: 1
Reply 20, posted (8 years 1 month 3 weeks 6 days 13 hours ago) and read 2189 times:

The dispatch reliability on the MD-80's is not that much worse than the 717's. The companies goal for the 717 is 99%. They don't quite make that. 98 something %. The MD-80 goal is 98% and they are at 97 something %. One percent difference is not that much. So one more flight out of every hundred is late on an 80 as opposed to a 717. Maybe I'm missing something. Sure it sucks anytime a plane is late but they all break. New or used. And what do you mean by sloppy dispatch procedures?

User currently offlineJeb94 From United States of America, joined Oct 2004, 602 posts, RR: 4
Reply 21, posted (8 years 1 month 3 weeks 6 days 4 hours ago) and read 2134 times:

If they want those 83s they better snap them up quick! G4 is constantly shopping for 83s and if they get wind of these they might grab them. Good for YX and its about time! The one question I have to ask. Is it cheaper to buy MD83s or convert the 81s and 82s to 83s? That's basically a gear change, upgrade of engine (JT8D-219 is just a slightly uprated JT8D-217), and some flight control components get modified. Changing the tailcone is a pretty simple deal too and will slightly improve the efficiency of the aircraft.

User currently offlineSideflare75 From United States of America, joined May 2005, 613 posts, RR: 1
Reply 22, posted (8 years 1 month 3 weeks 6 days 3 hours ago) and read 2113 times:

So where does the increased range come from? Changing the gear and engines is easy enough. Do -83's have aux tanks like our -88's?
How are things at Allegiant? Hot enough in Vegas for you?

I was surprised to hear that there were -83's available knowing you guys were buying them. Like I said before it's all just something someone told me at work so it could be just another rumor. I think we should wait to get something new. One more year won't kill us. Who knows, a few more profitable quarters and maybe we can afford them.


User currently offlineATWZW170 From United States of America, joined Oct 2004, 904 posts, RR: 3
Reply 23, posted (8 years 1 month 3 weeks 6 days 2 hours ago) and read 2099 times:

Why would they be looking to add more D328's when the RFP is out for 50 seaters? ACA's old D328's are sitting around - there are plenty of them out there. I don't see them running to get any more smaller jets - I'm sure they will announce who will get their business soon and the 50 seat jets make sense.


Success is getting what you want...happiness is liking what you get
User currently offlineSideflare75 From United States of America, joined May 2005, 613 posts, RR: 1
Reply 24, posted (8 years 1 month 3 weeks 6 days 2 hours ago) and read 2090 times:

I believe it will be to replace the 1900's that are going away. I guess they are getting one more 328 for sure and maybe two.

25 Mke717spotter : I don't think it'd be smart to get MD-83's cause then in a couple of years they are gonna have to replace them anyways. To much hassle, it would be s
26 TVNWZ : Then someone is fudging the numbers. Everytime I go somewhere the Saver flights often say DELAYED or NOW AT ---. Not ON TIME. My personal experience
27 Sideflare75 : Well I can't make you believe the numbers that the company tells us any more than you can make me believe that what you described above was an isolat
28 TVNWZ : I am glad you had no problems. And for the record, not every flight is a problem, though I have never left on time from TPA. Never. I like the airlin
29 Skyexramper : Did everyone read the business section with the big picture of the 717 being pushed.....It's sad to see such a lazy dressed ramper right in the middle
30 N917ME : Word has it that ZW mx were looking installing the easy bake ovens on the RJ's in the hangar in MKE. Maybe ZW may be awarded the contract?!!
31 TVNWZ : In another post I read that they were soliciting bids for the ovens so they could effectively bid the project.
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