SInGAPORE_AIR
Posts: 11619
Joined: Mon Nov 13, 2000 4:06 am

U.S. Airways Feb Loss US$76 Mil - Up 25% From Jan

Fri Apr 04, 2003 8:04 am

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.
 
SInGAPORE_AIR
Posts: 11619
Joined: Mon Nov 13, 2000 4:06 am

RE: U.S. Airways Feb Loss US$76 Mil - Up 25% From Jan

Fri Apr 04, 2003 8:05 am

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.
 
gigneil
Posts: 14133
Joined: Fri Nov 08, 2002 10:25 am

RE: U.S. Airways Feb Loss US$76 Mil - Up 25% From

Fri Apr 04, 2003 9:38 am

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

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

N
 
usairways85
Posts: 3551
Joined: Fri Nov 16, 2001 11:59 am

RE: U.S. Airways Feb Loss US$76 Mil - Up 25% From Jan

Fri Apr 04, 2003 9:50 am

I think he meant the loss went up as in -98.7 million up from -101.3 million
 
neednewairport
Posts: 228
Joined: Mon Jan 28, 2002 4:41 am

RE: U.S. Airways Feb Loss US$76 Mil - Up 25% From Jan

Fri Apr 04, 2003 10:48 am

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
 
N628AU
Posts: 355
Joined: Wed Oct 18, 2000 4:20 am

RE: U.S. Airways Feb Loss US$76 Mil - Up 25% From Jan

Fri Apr 04, 2003 3:12 pm

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.