Kohflot
Topic Author
Posts: 941
Joined: Wed Sep 29, 1999 5:31 am

FlyI Q3 Earnings Conference Call 10/27

Thu Oct 28, 2004 1:49 am

Here's the link for those interested:

http://www.flyi.com/company/pressarchive/2004/oct/100704.htm

It starts at 1pm EDT..

One thing I noticed in the earnings announcement was the cash balance. Apparently, it was over $340 million at the end of June and is now reported to be around $198 million. Obviously, this will be a big topic of discussion on the call.
Ask why..
 
nearord
Posts: 184
Joined: Thu Jun 17, 2004 11:16 am

RE: FlyI Q3 Earnings Conference Call 10/27

Thu Oct 28, 2004 1:56 am

I'm listening,

It should be an interesting call
 
Kohflot
Topic Author
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Joined: Wed Sep 29, 1999 5:31 am

RE: FlyI Q3 Earnings Conference Call 10/27

Thu Oct 28, 2004 2:27 am

Just mentioned on the conference call:

The November 3rd start date for the A319 "will slip", according to Kerry Skeen.
Ask why..
 
njintern
Posts: 56
Joined: Wed Dec 19, 2001 6:14 am

RE: FlyI Q3 Earnings Conference Call 10/27

Thu Oct 28, 2004 2:33 am

15.7 cent RASM. Wow!
 
Kohflot
Topic Author
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Joined: Wed Sep 29, 1999 5:31 am

RE: FlyI Q3 Earnings Conference Call 10/27

Thu Oct 28, 2004 2:40 am

The presentations are complete. In the Q&A session now.

* Some competitive responses by other carriers were "not expected".

* As mentioned, the Airbus won't be introduced on 11/3.

* FlyI will enter in Global Distribution Systems. Galileo is the first.

* Attempting to defer or reduce lease payments on parked planes.

* They're actively trying to sell some aircraft, including 4 CRJs.

* They say the flat load factor between August and September is actually good news based upon seasonal trends in the industry.

* Reducing frequencies in some markets between the startup and December.
ATL loses 8 frequences, BOS loses 4, EWR loses 6, JFK loses 4, RDU loses 5.

* That capacity going to south-to-MCO and TPA flights.

* Aircraft utilization will decrease for the winter. Running 11.6 hours/day now, will be 10.7 hours/day over the winter.

* Expecting a lower cash burn rate in the fourth quarter, but will not provide guidance to how much cash is expected to be on hand be next year.

[Edited 2004-10-27 19:43:29]
Ask why..
 
Kohflot
Topic Author
Posts: 941
Joined: Wed Sep 29, 1999 5:31 am

RE: FlyI Q3 Earnings Conference Call 10/27

Thu Oct 28, 2004 3:56 am

One last item...

It was interesting that the company refused to answer a question about whether they're talking to other carriers about providing a regional feed again.

When asked if they would entertain such an offer, they essentially replied that they would look into it.
Ask why..
 
nearord
Posts: 184
Joined: Thu Jun 17, 2004 11:16 am

RE: FlyI Q3 Earnings Conference Call 10/27

Thu Oct 28, 2004 5:59 am

They don't have to answer the first question per the law. They do however have to answer the second question, it is their fiduciary responsibility to entertain any offer. If they answered the question that they would not, they would be in some trouble. They have to answer yes to that question, so don't read into it too much.