US Air reports 1Q PROFIT!

wheelsup · May 9th, 2006, 10:16

Quote:

TEMPE, Ariz. (AP) - US Airways Group Inc. on Tuesday said it reversed a year-ago loss in the first quarter, as revenue surged in the wake of the airline's merger with America West.

The airline reported quarterly earnings of $65 million, or 76 cents per share, compared with losses of $174 million, or $6.58 per share, a year ago. Excluding special items, the company posted a profit of $5 million, or 5 cents per share, versus a loss of $16 million, or $1.09 per share, in the year-earlier quarter.

US Airways said its results are compared to America West's standalone results for the first quarter of 2005, before America West acquired US Airways in September 2005. The combination was structured so that America West -- the acquiring company -- became a subsidiary of US Airways Group.

Per-share results were affected by a change in the number of shares outstanding: About 93.4 million in the recent quarter versus 25.7 million in the 2005 quarter.

Analysts expected a loss of 16 cents per share, according to a Thomson Financial poll.

Operating revenue surged to $2.65 billion from $733 million a year ago. Analysts' revenue target for the recent quarter was $2.61 billion.

Passenger traffic more than doubled in the quarter to 16.39 billion revenue passenger miles from 6.37 billion the year before. A revenue passenger mile equals one paying passenger flown one mile.

Capacity expanded in the quarter to 21.89 billion available seat miles from 8.28 billion. Occupancy dipped to 74.9 percent from 76.9 percent.

Shares of US Airways added 40 cents to $47.70 in premarket activity.

via Moneycentral

No tricks like United - they posted $5 million in net profit not including "special items". Doug Parker is realy working his tail off. I guess it goes to show that you can make money in todays high fuel prices.

jon1424 · May 9th, 2006, 10:34

This definitley makes his employees happy! You should see PHL ever since he threw Grantham in here (former LAS station manager). One of the most approachable guys I've ever met in my life. He's really turning this place around. If Doug continues to put in quality people in positions like that I wouldn't be surprised at the analysts' estimates for the year (even if I do think they are a bit high).

SmitteyB · May 9th, 2006, 10:58

Excellent news.

JEP · May 9th, 2006, 11:00

Have you been talking to Chris Ford?

May 9th, 2006, 10:34	#2
jon1424 Junior Member Join Date: Jul 2005 Location: PHL Posts: 232	Re: US Air reports 1Q PROFIT! This definitley makes his employees happy! You should see PHL ever since he threw Grantham in here (former LAS station manager). One of the most approachable guys I've ever met in my life. He's really turning this place around. If Doug continues to put in quality people in positions like that I wouldn't be surprised at the analysts' estimates for the year (even if I do think they are a bit high).

May 9th, 2006, 10:58	#3
SmitteyB Old Skool Join Date: Nov 2004 Location: Ithaca, NY Posts: 1,974	Re: US Air reports 1Q PROFIT! Excellent news. __________________ ALPA Organizing Committee Member SAAB First Officer

May 9th, 2006, 11:00	#4
JEP Super Moderator Join Date: Jun 2003 Location: Eden Prairie, MN (KFCM) (KMSP) Posts: 11,191 Blog Entries: 1	Re: US Air reports 1Q PROFIT! Have you been talking to Chris Ford? __________________ : : : “One day your life will flash before your eyes. Make sure its worth watching.”

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