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?
MasseyBrown From United States of America, joined Dec 2002, 5799 posts, RR: 7
Reply 7, posted (6 years 10 months 6 days 3 hours ago) and read 2742 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'.
AirLittoral From France, joined Sep 2006, 108 posts, RR: 0
Reply 9, posted (6 years 10 months 5 days 20 hours ago) and read 2570 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.