boscenter
DC-9 Evangelist
- Joined
- Dec 12, 2001
- Posts
- 148
While still not a profit, these numbers look better than what most of the other airlines have put on the table.
Considering how right after 9/11 AWA was thought of as "one of the first to buckle," these guys have done a great job of turning around!
Even w/o the ATSB loan, the numbers still look good...
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PHOENIX (CBS.MW) -- America West beat analyst estimates and actually narrowed its loss in the second quarter, making it something of a standout among the money-losing major airlines that have reported results.
As a result, shares rose 2 percent to $2.43 in morning trading while other airlines fell. See airline sector story.
Before the bell, America West Holdings (AWA: news, chart, profile) reported a second-quarter loss of $8.5 million, or 25 cents per share. That is well down from its losses of $42.5 million and $1.26 in the year ago period and less than half the consensus estimate of analysts polled by Thomson Financial/First Call.
While those results include some taxpayer help, the company's loss was only $9.9 million and 29 cents when the bailout from Uncle Sam is taken out of the picture.
America West also produced a nominal net profit in June and a "modest" operating profit for the quarter, the company said.
According to CEO W. Douglas Parker, "while America West's second quarter net loss reflects the continued economic challenges facing the airline industry, we are encouraged to be the only major airline to report a year-over-year improvement in earnings."
Parker said the relatively strong performance was driven by a new fare system and cost reductions imposed during a recent restructuring.
Still, operating revenues for the quarter fell 7.3 percent, to $544 million, while available seat miles declined 0.7 percent. Revenue passenger miles were down 0.3 percent from the second quarter of 2001, but passenger load factor was a record 75.8 percent.
Passenger revenue per available seat mile fell 6.7 percent, less than most of its peers.
Southwest (LUV: news, chart, profile) has been the only major carrier thus far to report a second quarter profit.
Considering how right after 9/11 AWA was thought of as "one of the first to buckle," these guys have done a great job of turning around!
Even w/o the ATSB loan, the numbers still look good...
-----
PHOENIX (CBS.MW) -- America West beat analyst estimates and actually narrowed its loss in the second quarter, making it something of a standout among the money-losing major airlines that have reported results.
As a result, shares rose 2 percent to $2.43 in morning trading while other airlines fell. See airline sector story.
Before the bell, America West Holdings (AWA: news, chart, profile) reported a second-quarter loss of $8.5 million, or 25 cents per share. That is well down from its losses of $42.5 million and $1.26 in the year ago period and less than half the consensus estimate of analysts polled by Thomson Financial/First Call.
While those results include some taxpayer help, the company's loss was only $9.9 million and 29 cents when the bailout from Uncle Sam is taken out of the picture.
America West also produced a nominal net profit in June and a "modest" operating profit for the quarter, the company said.
According to CEO W. Douglas Parker, "while America West's second quarter net loss reflects the continued economic challenges facing the airline industry, we are encouraged to be the only major airline to report a year-over-year improvement in earnings."
Parker said the relatively strong performance was driven by a new fare system and cost reductions imposed during a recent restructuring.
Still, operating revenues for the quarter fell 7.3 percent, to $544 million, while available seat miles declined 0.7 percent. Revenue passenger miles were down 0.3 percent from the second quarter of 2001, but passenger load factor was a record 75.8 percent.
Passenger revenue per available seat mile fell 6.7 percent, less than most of its peers.
Southwest (LUV: news, chart, profile) has been the only major carrier thus far to report a second quarter profit.