Sponsor Message:
Civil Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
US Airways Announces Third Quarter Results  
User currently offlineMainland From United States of America, joined Jun 2004, 309 posts, RR: 0
Posted (4 years 11 months 2 days 5 hours ago) and read 2599 times:

Looks like the loss, even excluding special items, comes in better than analyst expectations. Conference call today at 1pm.

Press Release
http://finance.yahoo.com/news/US-Air...eports-bw-1464623566.html?x=0&.v=1

Conference call link:
http://phx.corporate-ir.net/phoenix....=irol-EventDetails&EventId=2484746

Quote:

* The Company reported a net loss of $80 million, or ($0.60) per share. This compares to a net loss of $866 million, or ($8.46) per share for the same period last year. Excluding special items, the Company reported a net loss of $110 million, or ($0.83) per share versus a net loss excluding special items of $243 million, or ($2.36) per share for the same period last year.

* The effects of fuel hedging significantly impacted the third quarter 2009 results. Excluding special items and net realized losses/gains on fuel hedging transactions, the Company reported operating income of $23 million and a net loss of $60 million for its 2009 third quarter. This compares to a third quarter 2008 operating loss of $261 million and net loss of $311 million as measured on the same basis.

* The Company’s a la carte revenue initiatives continue to produce impressive results and generated approximately $110 million in revenue during the third quarter. With the previously announced changes to this program, the Company now estimates that these programs will generate more than $500 million in ancillary revenue on an annualized basis.

* The Company continues to run an efficient and on-time airline. On a year-to-date basis US Airways ranks first among the major network carriers in on-time performance as measured by the U.S. Department of Transportation’s (DOT) Air Travel Consumer Report.

* Unit costs continued to decline as mainline cost per available seat mile (CASM) excluding fuel and special items fell 0.3 percent despite a 3.5 percent decline in mainline capacity. On a year-to-date basis, CASM excluding fuel and special items is down 0.6 percent on a 5.5 percent decline in mainline capacity.

* The Company’s total cash and investments on Sept. 30, 2009 was $2.0 billion, of which $0.5 billion was restricted.




You don't need a passport to know what state you're in...
5 replies: All unread, jump to last
 
User currently offlineFokkerf28 From United States of America, joined Feb 2004, 152 posts, RR: 1
Reply 1, posted (4 years 11 months 1 day 17 hours ago) and read 2185 times:
Support Airliners.net - become a First Class Member!

Looks like the company is realatively healthy.

The company said its net loss amounted to USD$80 million, compared with a loss of USD$866 million a year earlier.

Total revenue in the third quarter fell 16.6 percent from the year-ago period due to a 3.6 percent decline in total available seat miles, the airline said.

US Airways ended the quarter with USD$2 billion in cash and investments.

(Reuters)


User currently offlineLightsaber From United States of America, joined Jan 2005, 13122 posts, RR: 100
Reply 2, posted (4 years 11 months 1 day 17 hours ago) and read 2114 times:
Support Airliners.net - become a First Class Member!

Not as bad as I feared. Not great... but it is better than many worried about.

$110 million before special charges... what did US sell?

You need a much more dramatic thread title to attract a bunch of posts. Something along the lines of "US Airways is DOOMED! $80 million LOSS!"  Wink

Seriously, much better than I thought it would be. Its good to see they have $1.5 Billion in free cash.

Lightsaber



Societies that achieve a critical mass of ideas achieve self sustaining growth; others stagnate.
User currently offlineBoeing727 From United States of America, joined May 1999, 954 posts, RR: 0
Reply 3, posted (4 years 11 months 1 day 16 hours ago) and read 2053 times:



Quoting Lightsaber (Reply 2):
$110 million before special charges... what did US sell?

10 E190 to RW...

Boeing727


User currently offlineLightsaber From United States of America, joined Jan 2005, 13122 posts, RR: 100
Reply 4, posted (4 years 11 months 1 day 15 hours ago) and read 1944 times:
Support Airliners.net - become a First Class Member!



Quoting Boeing727 (Reply 3):
10 E190 to RW...

Thank you. But I cannot imagine *that* much profit off 10 E190's... or did US airways buy them that cheap?

Lightsaber



Societies that achieve a critical mass of ideas achieve self sustaining growth; others stagnate.
User currently offlineMainland From United States of America, joined Jun 2004, 309 posts, RR: 0
Reply 5, posted (4 years 11 months 1 day 6 hours ago) and read 1796 times:

Here's my rough breakdown of the positive / negative charges this Q:

$80 million net loss - including special items
$110 million net loss - excluding special items

Special items:
$48 million unrealized net gain on fuel hedges
$10 million charge related to aircraft capacity cut costs
$5 million charge related to severance costs
$3 million (non-cash) charge related to temporary impairment of company held auction rate securities

Net gain on special items: $30 million

But there's more. During the Q the company settled a hedge transaction that resulted in a $50 million loss. This $50 million is built into the $110 million net loss.

So, if you get rid of all the noise of special items and fuel hedges you end up with a $60 million net loss, which is better than the $211 million loss excluding the same items last year.

The sale of E190's to Republic does not impact the income statement. It will reduce debt on their balance sheet and, more specifically, repay a debt to Republic in full.

One thing that perked up my ears late in the call was Parker talking of new ancillary revenue streams. Like Allegiant, the company is looking to charge fees based on placement of seat and hopes to have something in place by the middle of next year.

Here's a link to the transcript in its entirety:
http://seekingalpha.com/article/1683...ll-transcript?source=yahoo&page=-1



You don't need a passport to know what state you're in...
Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
Continental Airlines Announces 3rd Quarter Results posted Wed Oct 21 2009 03:15:01 by Dutchflyboi
CO Announces Third Quarter Loss posted Thu Oct 16 2008 04:15:31 by MX757
US Airways Announces Intention To Apply For China posted Mon Feb 12 2007 15:23:14 by Positiverate
US Airways Announces January Traffic posted Tue Feb 7 2006 17:53:52 by Jdwfloyd
US Airways Posts 3rd Quarter Loss posted Fri Oct 29 2004 18:25:40 by Willbdsp
US Airways Announces Charlotte-Liberia posted Mon Aug 2 2004 20:37:12 by A330323X
US Airways Reports 2nd Quarter Net Income $34M posted Tue Jul 27 2004 15:46:42 by A330323X
US Airways Announces LGA-AUA/STT posted Wed Feb 25 2004 16:56:59 by A330323X
(Westjet) Third Quarter Results Conference Call posted Thu Oct 16 2003 03:50:35 by CanadaEH
Now US Airways Announces Cuts posted Sat Sep 15 2001 20:32:37 by Ryefly