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USAirways Posts A Loss Of 567 Million  
User currently offlineUnited1 From United States of America, joined Oct 2003, 5930 posts, RR: 9
Posted (6 years 3 days 13 hours ago) and read 3189 times:

http://biz.yahoo.com/bw/080722/20080722005475.html?.v=1

Operating loss was 101 million.
Ends the quarter with 2.8 billion in total cash (2.3 unrestricted)


Semper Fi - PowerPoint makes us stupid.
10 replies: All unread, jump to last
 
User currently offlineUN_B732 From United States of America, joined Jul 2001, 4289 posts, RR: 4
Reply 1, posted (6 years 3 days 13 hours ago) and read 3190 times:

Good cash situation; nasty operating loss..

-A



What now?
User currently offlineLAXintl From United States of America, joined May 2000, 24818 posts, RR: 46
Reply 2, posted (6 years 3 days 10 hours ago) and read 3052 times:

While the headline numbers look grim as they included one-off charges, I'm am really (pleasantly) surprised at the minimal operating losses US Air and others posting for Q2.

Who knows , we could be looking for profits in Q3 possibly.

And yes US cash position is indeed good.



From the desert to the sea, to all of Southern California
User currently offlineIliriBDL From Germany, joined May 2007, 1205 posts, RR: 14
Reply 3, posted (6 years 3 days 9 hours ago) and read 2873 times:



Quoting LAXintl (Reply 2):
Who knows , we could be looking for profits in Q3 possibly.

Could happen, you never know.

So CO and US had the least losses when compared to the other big airlines?



delta.com
User currently offlineUnited1 From United States of America, joined Oct 2003, 5930 posts, RR: 9
Reply 4, posted (6 years 3 days 8 hours ago) and read 2844 times:



Quoting IliriBDL (Reply 3):
So CO and US had the least losses when compared to the other big airlines?

Courtesy Panamair ....

All numbers excluding special charges:

Operating Profit/Loss: Operating Margin:

DL: +$213m; +3.9%
B6: +$21m; +2.4%
CO: - $13m; - 0.7%
UA: -$87m; -1.6%
AA; - $126m; -2.0%
US: -$70m; -2.1%

Net Profit / Loss; Margin:

DL: +$137m; +2.5%
CO: -$25m; -0.6%
B6: -$7m; -0.8%
UA: -$151m; -2.8%
US: -$101m; -3.1%
AA: -$284m; -4.6%



Semper Fi - PowerPoint makes us stupid.
User currently offlineBoston92 From United States of America, joined Aug 2006, 3390 posts, RR: 7
Reply 5, posted (6 years 3 days 8 hours ago) and read 2762 times:



Quoting IliriBDL (Reply 3):
So CO and US had the least losses when compared to the other big airlines?

I would put United's Q2 results better than US



"Why does a slight tax increase cost you $200 and a substantial tax cut save you 30 cents?"
User currently offlineMMEPHX From , joined Dec 1969, posts, RR:
Reply 6, posted (6 years 3 days 6 hours ago) and read 2600 times:



Quoting United1 (Reply 4):
Courtesy Panamair ....

All numbers excluding special charges:

Operating Profit/Loss: Operating Margin:

DL: +$213m; +3.9%
B6: +$21m; +2.4%
CO: - $13m; - 0.7%
UA: -$87m; -1.6%
AA; - $126m; -2.0%
US: -$70m; -2.1%

Net Profit / Loss; Margin:

DL: +$137m; +2.5%
CO: -$25m; -0.6%
B6: -$7m; -0.8%
UA: -$151m; -2.8%
US: -$101m; -3.1%
AA: -$284m; -4.6%

Good summary. What is interesting to note around these numbers is that they are not neccessarily in disaster terroritory (DL is in fact superb!) particularly on the operations. Though obviously not good either. Most all of these carriers have decent cash positions and with the recent announcements of planned cutbacks, the various ancillary fees and the stabilization (at least for the time being) of oil (OK ~$130/bbl is not a good price) etc. could there be some hope that wholesale closures and further draconian cuts might just be avoidable and airlines could be gaining the ability to control prices in the foreseeable future?


User currently offlineMasseyBrown From United States of America, joined Dec 2002, 5365 posts, RR: 7
Reply 7, posted (6 years 2 days 19 hours ago) and read 2355 times:



Quoting UN_B732 (Reply 1):
Good cash situation; nasty operating loss..

Interesting comment during the conference call: If US accounted for hedging gains the way "some other airlines do" they would have shown a profit. US only takes profits on hedges related to the period; they do NOT use mark to market accounting to monetize future unrealized gains.



I love long German words like 'Freundschaftsbezeigungen'.
User currently offlineMasseyBrown From United States of America, joined Dec 2002, 5365 posts, RR: 7
Reply 8, posted (6 years 2 days 12 hours ago) and read 2210 times:



Quoting MasseyBrown (Reply 7):
they would have shown a profit.

Operating profit, that is, not counting goodwill write-offs.



I love long German words like 'Freundschaftsbezeigungen'.
User currently offlineAirLittoral From France, joined Sep 2006, 108 posts, RR: 0
Reply 9, posted (6 years 2 days 12 hours ago) and read 2183 times:

"The Company reported a second quarter 2008 net loss of $567 million, or $6.16 per share, which included net special items of $466 million. The largest special item was a $640 million non-cash impairment charge related to the write down of goodwill and spare parts."

So...is that charge going to be recurrent over the next quarters? Also, quite re-assuring because that bit doesn't affect their cash situation. It's not like they were bleeding $567m of cash per quarter.


User currently offlineMasseyBrown From United States of America, joined Dec 2002, 5365 posts, RR: 7
Reply 10, posted (6 years 2 days 11 hours ago) and read 2136 times:



Quoting AirLittoral (Reply 9):
So...is that charge going to be recurrent over the next quarters?

The charge included a write off of $622 million, representing all the goodwill on the books. There is no more to write off, so that particular portion of the charge cannot recur.

There are some other intangibles, which could be subject to amortization in the future.



I love long German words like 'Freundschaftsbezeigungen'.
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