A330323X
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US Airways Reports March Operating Profit

Sat Apr 30, 2005 2:16 am

US Airways reported its First Quarter 2005 results, available at http://www.usairways.com/about/press/nw_05_0429.htm. Although the March numbers won't be available for another day or two, you can figure out the numbers from the Jan/Feb and quarterly results.

US had an operating loss of $201 million for the quarter, with a $134 million operating loss in January and an $85 million operating loss in February. This implies a $19 million operating profit in March.

As I had expected, though no one else seemed to believe, the company was cashflow positive in March. US generated positive cashflow from operations in the amount of $32 million. When added to $75 million in debtor-in-possession financing from Air Wisconsin, their unrestricted cash total increased from $405 million in February to $513 million in March.

Mainline CASM excluding fuel decreased 15.6% to 8.46 cents.

The cost of aviation fuel per gallon increased 48.1% to $1.472. Overall mainline CASM including fuel decreased 6.8% to 10.89 cents.

[Edited 2005-04-29 19:29:12]
I'm the expert on here on two things, neither of which I care about much anymore.
 
commavia
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 2:21 am

Their Statement of Operations says that their operating loss was $201 million for the Jan-Mar 05 period.
 
SHUPirate1
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 2:27 am

Quoting Commavia (Reply 1):
Their Statement of Operations says that their operating loss was $201 million for the Jan-Mar 05 period.

Perhaps you might want to read the snippet of the article that A330323X posted.

A330323X-Unfortunately, that link you posted is a dead link. You might want to revise it.
Burma's constitutional referendum options: A. Yes, B. Go to Insein Prison!
 
commavia
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 2:30 am

Quoting SHUPirate1 (Reply 2):
Perhaps you might want to read the snippet of the article that A330323X posted

I did read US' press release, but also their Statement of Operations, available through the link about half way down the page.

That, a financial breakdown of the company's Q1 performance, indicates a $201 million operating loss.
 
A330323X
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 2:32 am

Quoting Commavia (Reply 3):
That, a financial breakdown of the company's Q1 performance, indicates a $201 million operating loss.

I never said otherwise. In fact, I said

Quoting A330323X (Thread starter):
US had an operating loss of $201 million for the quarter, with a $134 million operating loss in January and an $85 million operating loss in February. This implies a $19 million operating profit in March.

I don't see the problem.

(Oh, and SHUPirate1, I fixed the link.)
I'm the expert on here on two things, neither of which I care about much anymore.
 
padcrasher
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 2:33 am

Why look at operating profit? Excluding 1x charges they lost 280 Mil. Around an 18% loss margin. Cash by now is down in the high 300 Mil range near the 325 Mil limit to quailify for continued financing from the Government.
 
BlatantEcho
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 2:36 am

"Mainline CASM excluding fuel decreased 15.6% to 8.46 cents."

good

"Loss Attributed to High Fuel Prices and Growing Low Fare Competition"

no one saw that coming?


Steeper losses than last year quarter for quarter.........ugh, please, just put a fork in this thing.
They're not handing trophies out today
 
A330323X
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 2:37 am

Quoting Padcrasher (Reply 5):
Cash by now is down in the high 300 Mil range near the 325 Mil limit to quailify for continued financing from the Government.

I guess if you consider $513 million in the high $300 million range.  Yeah sure
I'm the expert on here on two things, neither of which I care about much anymore.
 
padcrasher
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 2:40 am

I don't know how to say "by now" any clearer. How bout as of the end of April after fuel went up 15% from February's highs?
 
A330323X
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 2:44 am

Well, all I have to say is that US is cashflow positive from March on.

Nobody believed me that they would be for March, but they were; so I really don't care if you think otherwise for April.
I'm the expert on here on two things, neither of which I care about much anymore.
 
padcrasher
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 2:48 am

The cash gain came from loans. It wasn't via positive cash flow from operations. They had 405 Mil and the end of Feb recieved 250 Mil in loans and then wound up with 531 mil. That's around a 125 mil in negative operating cash flow for March.
 
avek00
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 2:49 am

Quoting A330323X (Reply 9):
Nobody believed me that they would be for March, but they were; so I really don't care if you think otherwise for April.

..and almost every airline has acknolwedged that March financial data was aided by Easter falling in March instead of April, and that April will prove a step backwards.
Live life to the fullest.
 
SHUPirate1
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 2:49 am

Quoting Padcrasher (Reply 10):
The cash gain came from loans. It wasn't via positive cash flow from operations. They had 405 Mil and the end of Feb recieved 250 Mil in loans and then wound up with 531 mil. That's around a 125 mil in negative operating cash flow for March.

Padcrasher-Only the 125 million from AWAC is accounted for, not the 125 million from Republic.
Burma's constitutional referendum options: A. Yes, B. Go to Insein Prison!
 
A330323X
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 2:51 am

Quoting Padcrasher (Reply 10):
The cash gain came from loans. It wasn't via positive cash flow from operations. They had 405 Mil and the end of Feb recieved 250 Mil in loans and then wound up with 531 mil. That's around a 125 mil in negative operating cash flow for March.

Um, no.

They had $405 million, and they received $75 million in loans. The $125 Air Wisconsin debtor-in-possession commitment is to be drawn in steps, with $75 million in March, and further installments of $25 million each in April and May. The $125 Republic investment is to be an equity investment made upon emergence from bankruptcy. Thus, as I said

Quoting A330323X (Thread starter):
US generated positive cashflow from operations in the amount of $32 million.
I'm the expert on here on two things, neither of which I care about much anymore.
 
commavia
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 3:01 am

Quoting A330323X (Reply 4):
I never said otherwise.

I apologize -- I thought the thread was titled USAirways reports Q1 operating profit. Sorry about that.
 
SonOfACaptain
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 4:11 am

Only here can we take good news from US and turn it into something bad. I am getting the impression that some people just don't want to hear good news at US. A330323X, SHUPirate1, and I seem to be the only people here that actually aknowledges good reports from US. (I know there is a few more) Come on guys, stop thinking that US hasn't done anything good these past few years.

-SOAC
Non Illegitimi Carborundum
 
avek00
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 4:32 am

Since when is a quarterly net loss of $280 million good news?
Live life to the fullest.
 
apodino
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 4:37 am

And United seems to still be in the same boat, extension after extension, a business that has become much more complicated since Tilton took over, rather than simpler which is needed to cut costs.

And USAirways has identified lots of money makers, ie more service to augusta during masters, indy during the 500, and seasonal service where demand warrants it. In fact Shannon and Dublin bookings are strong already according to a source.

Getting dumped by United was the best thing that happened to ZW. ZW management even said that if they continued flying at what United wanted them to fly for, it would have put Air Wisconsin out of business.

USAirways is clearly heading in the right direction. Mark my words. They will emerge from bankruptcy before United, and their goal is to get costs lower than Southwests. I like the fact that they have a plan and a clear vision. Have we seen that with United? All united does is put gag orders on everyone.
 
FlyPNS1
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 4:38 am

I'm not sure what is supposedly so great about these numbers. The operating profit in March was no surprise....many carriers (even legacy) reported small operating profits in March. I wouldn't be surprised if US reported small operating profits in May, June, July and August. However, losses during the rest of the year will more than offset these gains.

What's really disturbing is USAirways revenue performance....absolutely dismal!!!! USAirways had the WORST unit revenue performance of any carrier that has reported so far.
 
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ERJ170
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 4:38 am

Quoting Avek00 (Reply 16):
Since when is a quarterly net loss of $280 million good news?

Well, its not $1.1 billion (Dl, even though I like DL), $450 Million (even though I like NW), only slightly worst than others (AA $162 Million, CO $182 Million) and god knows what UAL will post.. so I would have to say that right now, US is actually doing better than average..
Aiming High and going far..
 
FlyPNS1
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 4:43 am

Quoting ERJ170 (Reply 19):
Well, its not $1.1 billion (Dl, even though I like DL), $450 Million (even though I like NW), only slightly worst than others (AA $162 Million, CO $182 Million) and god knows what UAL will post.. so I would have to say that right now, US is actually doing better than average..

You can't compare losses like that. US is a much smaller airline than AA, NW, CO or DL. A $280 million loss at a small airline like US is actually far worse than a $182/162 million loss at a much larger airline like CO/AA.
 
apodino
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 4:47 am

Quoting ERJ170 (Reply 19):
Quoting Avek00 (Reply 16):
Since when is a quarterly net loss of $280 million good news?

Well, its not $1.1 billion (Dl, even though I like DL), $450 Million (even though I like NW), only slightly worst than others (AA $162 Million, CO $182 Million) and god knows what UAL will post.. so I would have to say that right now, US is actually doing better than average..

If I remember correctly, 162 million and 182 million are less than 280. How is that better?
 
commavia
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 4:56 am

Quoting SonOfACaptain (Reply 15):
Only here can we take good news from US and turn it into something bad. I am getting the impression that some people just don't want to hear good news at US.

This is just bad news.

As ERJ170 alluded to, comparing US' loss of $280 million to AA's $162 million net loss does not account for the fact that AA is almost three times as large as US. AA had a pre-tax net loss margin of 4.22%, while US had a pre-tax net loss margin of 13.20%. That is a very big difference.
 
padcrasher
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 6:33 am

I stand corrected. I had no idea that had made that much improvement in cash flow. As you said I think they were around 37Mil in positive cash flow for March, less about 26 Mil in interest payments. That's 12 mil added to cash.
Don't look for the next 6 Months to be any worse. Just comparing March to January they made huge improvements in labor costs.
 
Indy
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 6:38 am

Even if they have $500 million. Losing $280 million is bad. Two more quarters of that and they are finished. Provided its not all paper loss and the money is draining their cash reserves. $500 milion seems very low for a carrier that size. Even if you bleed only $50 million a month it gives you less than a year to live.
Indy = Indianapolis and not Independence Air
 
ouboy79
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 6:40 am

The main thing that is clear with US now, is that they have one major thing to fix - their network. Southwest may come into PHL all it wants, but guess what...they aren't going to be flying on nearly as many routes as US does now. If I recall...the POR has to be filed tomorrow - that will give us some answers on what is going to happen.
 
goingboeing
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 6:44 am

These "good" reports are sort of like a cancer ravaged patient reporting that he didn't puke with the last chemo treatment. Great news for that incident, but overall, the patient is still dying.
 
elwood64151
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 6:57 am

Quoting A330323X (Reply 9):
Well, all I have to say is that US is cashflow positive from March on.

That's extremely presumtuous. Positive cash flow in March does NOT mean that there will be positive flow in April or May.

Quoting FlyPNS1 (Reply 20):
A $280 million loss at a small airline like US is actually far worse than a $182/162 million loss at a much larger airline like CO/AA

While I agree with your sentiment, that's the first time I've ever heard of US being described as "small."

Quoting Apodino (Reply 21):
If I remember correctly, 162 million and 182 million are less than 280. How is that better?

Actually, he said, "only slightly worse than others."

Try reading for content, and not for the automatic game-say argument.



Let's see:

Operating revenues: Down 3.7%
Operating expenses: Down 1.5%
Operating loss: Up 24.7%
Interest expense: Up 31.6%
IBIT: -$168 million
Cash from reorganization efforts: $89 million

What does this mean? In every category, USAirways has failed to show improvement. Costs are essentially flat while revenues are down. Excluding the cash from refinancing, they lost $257 million. Only CASM has shown any improvement, and with depressed revenue and increased fuel costs, that means very little. Mainline revenue fell 4.4% while mainline operating costs fell 5.5%, meaning a net gain on expenses of only 1.1%.

They're just not moving fast enough. Yes, it's good news they had an operational profit in March, but that good news is heavily outweighed by the incredibly disappointing financial data being reported.

Sorry guys, but when the timer is up at the end of next month, I think the curtain is going to fall on USAirways...
Those who fail to learn history are doomed to repeat it in summer school.
 
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lightsaber
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 7:32 am

Quoting A330323X (Thread starter):
the company was cashflow positive in March. U

Congrats to US!

Quoting A330323X (Thread starter):
Overall mainline CASM including fuel decreased 6.8% to 10.89 cents.

10.89 cents! Why with the current salaries does US have a mainline CASM so high? Does anyone have a breakdown? In the current RASM environment, every airline has to get their CASM below ~ 9.5 cents.

Quoting Elwood64151 (Reply 27):
Sorry guys, but when the timer is up at the end of next month, I think the curtain is going to fall on USAirways...

Ok, even a LCC fan like myself doesn't believe its that dire. US will get enough cash to at least make it to October. These threads won't die for a while!  duck  So US has a chance. But if they don't make a significant change by the end of June... Then I'll agree with you. I do agree that due to the "Easter shift" that April will be tougher for everyone.

Quoting Goingboeing (Reply 26):
These "good" reports are sort of like a cancer ravaged patient reporting that he didn't puke with the last chemo treatment. Great news for that incident, but overall, the patient is still dying.

While a good analogy... ouch! I just had a friend pull through cancer. When she stopped puking, she started to recover. It really was the sign she had won the battle...

Lightsaber
"They did not know it was impossible, so they did it!" - Mark Twain
 
padcrasher
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 9:27 am

Quoting Elwood64151 (Reply 27):
That's extremely presumtuous. Positive cash flow in March does NOT mean that there will be positive flow in April or May.

It means exactly that. April May bring in more revenue than March.
 
avek00
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 10:27 am

Quoting Padcrasher (Reply 29):
Quoting Elwood64151 (Reply 27):
That's extremely presumtuous. Positive cash flow in March does NOT mean that there will be positive flow in April or May.

It means exactly that. April May bring in more revenue than March.

As mentioned previously by most airlines, the YOY March figures were aided by Easter, and the YOY April figures will be negatively impacted as a result.
Live life to the fullest.
 
A330323X
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 5:54 pm

Quoting FlyPNS1 (Reply 18):
I'm not sure what is supposedly so great about these numbers.

I never said that these numbers were great. They're generally OK, about on track with what I had expected, and what they need going forward. What I do say is that, contrary to popular belief, the sky is not falling.

Quoting FlyPNS1 (Reply 18):
What's really disturbing is USAirways revenue performance....absolutely dismal!!!! USAirways had the WORST unit revenue performance of any carrier that has reported so far.

Yes, revenue was pretty dismal. I understand that RASM would have been flat, however, were it not for booking away in January, when the press coverage conveyed that the sky was falling. Booking away cost about $100 million in revenue from what I understand. Flat RASM would imply about a 4% drop in yield, consistent with other airlines. I'll try to get March RASM and yield numbers on Monday, and see how they compare.

Quoting Ouboy79 (Reply 25):
If I recall...the POR has to be filed tomorrow

Don't hold your breath.  Smile

I expect that the America West distraction will delay the POR a bit, and I'm sure that GE will go along with it. As far as the bankruptcy court is concerned, US already has until May 31 to file a plan.

Quoting Lightsaber (Reply 28):
10.89 cents! Why with the current salaries does US have a mainline CASM so high? Does anyone have a breakdown?

I'll get you a better breakdown probably Monday when they file some more detailed numbers with the court. But right now, at first glance, for mainline, it appears that fuel costs 2.43 cents per ASM, and employees cost about 3 cents per ASM.

Also, while I agree that US needs to get its CASM down (and it will continue to fall, even the labor CASM, as the latest agreements continue to be implemented), it's not at all out-of-line with other airlines. It's lower than NW, and slightly higher than CO and DL. Then take into account that US has a dramatically lower average stage length than other legacy airlines, and it doesn't look so bad at all.

Quoting Avek00 (Reply 30):
As mentioned previously by most airlines, the YOY March figures were aided by Easter, and the YOY April figures will be negatively impacted as a result.

No doubt that April will be worse than normal. I expect load factor to drop to about 76%, down 4 points from last year. That being said, I *still* expect them to be operationally cashflow positive, though.
I'm the expert on here on two things, neither of which I care about much anymore.
 
Morvious
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 6:27 pm

Quoting Goingboeing (Reply 26):
These "good" reports are sort of like a cancer ravaged patient reporting that he didn't puke with the last chemo treatment. Great news for that incident, but overall, the patient is still dying

Like you are saying, if you are a patient, fighting a decese like cancer, I think you would be happy to see a positive result on a chemo treatment in March.
Maybe the overall progress could be bad, but the results of March give you hope for the next months..

Quoting Indy (Reply 24):
Even if they have $500 million. Losing $280 million is bad. Two more quarters of that and they are finished. Provided its not all paper loss and the money is draining their cash reserves. $500 milion seems very low for a carrier that size. Even if you bleed only $50 million a month it gives you less than a year to live.

In a company losing millions of money each month, this is good news. It means that the plans are working out. Because from a 134$ million loss in January, you have finally worked things out to safe a 19$ million profit in March. If this continues this direction, it will mean a profit over the next quarter.

Try to see the positive side of things, instead of always the negative side!
They have to start somewhere with making money, and they finally did.

Quoting A330323X (Thread starter):
with a $134 million operating loss in January and an $85 million operating loss in February. This implies a $19 million operating profit in March

Good to see an Airliner climbing up the latter instead of falling down a mountain. Hope they get it right, to safe a lot of jobs for many people.
have a good day, Stefan van Hierden
 
bennett123
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 6:56 pm

Two points spring to mind.

1. A profitable March in only the first step.

2. What is the cash flow situation ignoring one off loans. When a company goes down, it is normally cash flow that gets you.
 
CaptainT38
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 9:23 pm

And what was the loss for DL?
 
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ERJ170
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 9:33 pm

Quoting Apodino (Reply 21):
If I remember correctly, 162 million and 182 million are less than 280. How is that better?

You seriously need to read that better.. I said that the $280Mil was slightly worst than AA/CO... and it is.. in comparison to what other carriers lost. If you can't see that, then that's on you.
Aiming High and going far..
 
TPASXM787
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 10:52 pm

Quoting FlyPNS1 (Reply 18):
USAirways had the WORST unit revenue performance of any carrier that has reported so far.

We're waiting on UA  Smile

Early indications are it may be much much worse. Like DL worse.

Quoting Elwood64151 (Reply 27):
Sorry guys, but when the timer is up at the end of next month, I think the curtain is going to fall on USAirways...

Have to disagree. All early signs point to a US/HP merger and most of this will be moot. If the curtain is to fall on anyone, it will be that overfed pig United. Unlike US, they have done NOTHING to try and exit BK. The timer has been "running out" on US for three years. April may be a bit of a step back, but at the end of the day if they lose $50M or so it's not the end of the world. That coupled with $25M in cash from agreements will only be a $25-$30M cash loss, which wouldn't be the end of the world. US can survive, and as older pilots that make more are phased out more and more the CASM will continue to drop. I have faimly who is due to retire from US soon that make a crapload of $$. This is some of the reason the CASM hasn't dropped yet.

Overall, no more doom and gloom than anything else I have seen.
This is the Last Stop.
 
nucsh
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RE: US Airways Reports March Operating Profit

Sat Apr 30, 2005 11:28 pm

Quoting TPASXM787 (Reply 36):
Have to disagree. All early signs point to a US/HP merger and most of this will be moot. If the curtain is to fall on anyone, it will be that overfed pig United. Unlike US, they have done NOTHING to try and exit BK. The timer has been "running out" on US for three years. April may be a bit of a step back, but at the end of the day if they lose $50M or so it's not the end of the world. That coupled with $25M in cash from agreements will only be a $25-$30M cash loss, which wouldn't be the end of the world.

Agreed.
If landing is about "kissing" the ground, you just about raped it.
 
galapagapop
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RE: US Airways Reports March Operating Profit

Sun May 01, 2005 12:55 am

Quoting TPASXM787 (Reply 36):
Have to disagree. All early signs point to a US/HP merger and most of this will be moot. If the curtain is to fall on anyone, it will be that overfed pig United. Unlike US, they have done NOTHING to try and exit BK. The timer has been "running out" on US for three years. April may be a bit of a step back, but at the end of the day if they lose $50M or so it's not the end of the world. That coupled with $25M in cash from agreements will only be a $25-$30M cash loss, which wouldn't be the end of the world. US can survive, and as older pilots that make more are phased out more and more the CASM will continue to drop. I have faimly who is due to retire from US soon that make a crapload of $$. This is some of the reason the CASM hasn't dropped yet.

Overall, no more doom and gloom than anything else I have seen.

Exactly, everyone rags on US like its over. When they forget to look at the no 2 carrier they've been in BK for over 2 1/2 years and have done nothing but try to remove pensions. US went in came out with a business plan, something unseen happended, fuel. US went back and is now continuing to cut costs without going back to the employees. This HP/US merger thing sounds more likely everyday.....
 
jeffrey1970
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RE: US Airways Reports March Operating Profit

Sun May 01, 2005 1:20 am

A330323X, I certainly hope that you are right
God bless through Jesus, Jeff
 
ouboy79
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RE: US Airways Reports March Operating Profit

Sun May 01, 2005 3:16 am

Honestly at this point it is up to GE if US dies or not. Then you throw in RSA, AWAC, AWA, and other potential funding firms like Mesa, Republic, etc. I would also go out on a limb and say LH and Air Canada are also involved in some form.

Now its just a wait and see until May 31st - stupid me forgot about the extension request - to see how its all going to fall.
 
SonOfACaptain
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RE: US Airways Reports March Operating Profit

Wed May 04, 2005 6:18 am

Here is some hard evidence that proves US did indeed report a March profit.

CHARLOTTE (Observer) - US Airways made $65 million in net income in
March, the first month it has turned a profit since filing for
bankruptcy protection in September, the company said in a court
filing.Last week, the airline reported a net loss for the quarter of
$191 million. Detailed figures released Monday showed that March's
gain was outweighed by heavy losses in January and February. In March,
the airline said it made $19 million in operating income and also
benefited from changes made in its bankruptcy reorganization.

Traditionally, US Airways' strongest quarter has been from April
through June. March could have been especially strong this year
because Easter fell in March instead of April, analysts said.


https://registration.charlotte.com/reg/login.do?url=http://www.charlotte.com%2Fmld%2Fcharlotte%2Fbusiness%2F11549150.htm

[Edited 2005-05-03 23:19:04]
Non Illegitimi Carborundum
 
jdaniel001
Posts: 619
Joined: Wed Mar 16, 2005 2:36 pm

RE: US Airways Reports March Operating Profit

Wed May 04, 2005 2:58 pm

Quoting SonOfACaptain (Reply 41):
Here is some hard evidence that proves US did indeed report a March profit.

No need to prove it to me. Unlike the others, I believe that US will be ok.

If everyone wants to knock airlines, go knock WN, AA or DH. WN is getting too big for it's britches, AA - well is AA, and DH is just not working out.
We Are UNITED!

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