tredding@swa
SWA F/O
- Joined
- Jul 1, 2002
- Posts
- 294
Continued from 1st post form CNBC @ http://www.msnbc.com/news/651118_asp.htm?vts=032720030540
DELTA AIR LINES
Airline status:
Delta is the third biggest airline in the U.S. and among the healthiest, though losses are widening.
Financial results:
Delta said it expects a bigger loss for the first quarter 2003, compared with the net loss of $397 million, or $3.25 a share, that it recorded for the same period a year ago. It reported a fourth quarter net loss of $363 million, or $2.98 loss per common share. For the full year 2002, the net loss was $1.3 billion, or $10.44 loss per share.
Delta Airlines
Price Change
9.70 -1.12%
Data: CNBC on MSN Money and S&P Comstock 20 min. delay.
Employment:
Delta has plans to cut about 16,000 jobs by mid-2003, about 21 percent of its work force, compared with pre- Sept. 11, 2001 levels.Delta had 60,170 full time employees and 11,194 part time employees in January, 2002. In December 2002 it had 60,002 full time and 8,701 part time employees, according to the Air Transport Association.
Traffic:
On March 24, the Atlanta-based carrier said it would cut back flights by 12 percent. As of March 1, Delta and its subsidiaries served 219 domestic cities in 46 states, as well as 47 international cities in 32 countries. Including all its units and partners, it flies 5,643 flights each day to over 438 cities in 78 countries. Delta has the most trans-Atlantic routes of major U.S. carriers. Because it serves destinations mostly on the Continent, and its alliance partner is Air France, it should be less affected by the war-time decline in trans-Atlantic bookings, as France is not involved in the hostilities, Standard & Poor’s estimated.
Fuel costs:
About 66 percent of Delta’s fuel needs for the first half of the year are hedged at $25-$26 a barrel, according to Deutsche Bank analysts.
Executive compensation:
Leo Mullin, chairman, CEO, was paid a salary of $795,000 and a bonus of $1.4 million in 2002, compared with a salary of $596,250 and no bonus in 2001.
Snapshot:
In a March 25 filing with the SEC, Delta said it expects to record a net loss this year, blaming depressed revenue, fewer customers and high costs. "Economic analysts indicate that recovery is unlikely before 2004, if then," Mullin said.The company said it expects 2003’s pension, interest and fuel expenses to rise $600 million to $800 million over last year.
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Northwest Airlines
Airline status:
Northwest, the world’s fourth largest airline. is relatively healthy, with a ton of liquidity and minimal cash outlay this year since its planes are paid for.
Financial results:
The airline reported a fourth quarter net loss of $488 million or $5.68 per share, compared to a fourth quarter 2001 net loss of $216 million or $2.55 per share. For the full year 2002, Northwest reported a net loss of $798 million, including unusual items, which compares to a full year 2001 reported net loss of $423 million.
Employment:
On March 21, Northwest announced it would cut 4,900 jobs before the end of the year and reduce its flight schedule by 12 percent. It has already had laid off about 12,000 employees due to the slump in the airline industry.
Northwest Airlines
Price Change
8.10 +0.25%
Data:
CNBC on MSN Money and S&P Comstock 20 min. delay.
Northwest had 42,824 full time employees and 1,833 part time employees in January, 2002. In December 2002 it had 42,463 full time and 1,898 part time employees, according to the Air Transport Association.
Traffic:
During February, traffic was 1.1 percent greater than a year ago. Northwest operates about 1,500 daily flights. With its travel partners, it serves nearly 750 cities in almost 120 countries on six continents.
Fuel costs:
Northwest hedged all its fuel needs at between $23 and $31 a barrel for the first quarter. For the second-quarter, half its needs hedged at between $22 and $29 a barrel, and 71 percent of third-quarter at $24 a barrel and 50 percent of fourth-quarter at $24 a barrel, according to Deutsche Bank analysts.
Executive compensation:
Gary Wilson, has been chairman since 1997. His compensation was not available.
Snapshot:
Doug Steenland, Northwest's president, said passenger bookings on some days recently have been down 30 percent from year-ago levels. In Mid-March, the credit rating agency Moody’s, considering the impact of war, said “it is increasingly clear that despite reductions, operating costs have not been reduced sufficiently to accommodate the current business environment and most carriers, including Northwest continue to experience significant operating losses and cash flow deficits.
--------------------------------------------------------------------------------
US Airways
Airline status:
US Airways, the nation’s seventh largest airline, filed for Chapter 11 protection on Aug. 11, 2002.
Financial results:
The carrier reported a net loss of $794 million for the fourth quarter 2002, on operating revenues of $1.61 billion, compared to a net loss of $1.16 billion on operating revenues of $1.57 billion for the fourth quarter 2001.
US Airways
Price Change
0.12 -0.86%
Data:
CNBC on MSN Money and S&P Comstock 20 min. delay.
For the full year 2002, it reported a net loss of $1.65 billion on operating revenues of $6.98 billion, compared to a net loss of $2.12 billion on operating revenues of $8.29 billion for the same period in 2001.
Employment:
US Airways had 32,985 full time employees and 3,295 part time employees in January, 2002. In December 2002 it had 28,612 full time and 3,093 part time employees, according to the Air Transport Association.
Traffic:
Twenty-two percent fewer passengers flew with US Airways in February than in February 2002. Revenue passenger miles for February decreased 15.8 percent compared to a year ago. A shutdown of US Airways, which carries about 6 percent of total U.S. airline traffic, would benefit other airlines that have a significant presence along the East Coast, notably Delta, Continental, and American, according to a report by Standard & Poor’s.
Fuel costs:
US Airways has not hedged its fuel costs.
Executive compensation:
David Siegel was appointed CEO in 2002. Compensation data is not available. Stephen Wolf earned $1.4 million in 2001 as chairman.
Snapshot:
On March 22, the airline and its pilots' union reached an agreement on an underfunded pension plan that cleared a critical hurdle to the carrier's emergence from Chapter 11 bankruptcy. The agreement freed more than $1 billion in financing.
--------------------------------------------------------------------------------
Southwest Airlines
Airline status:
Top of the heap. Southwest is in the strongest financial shape of any of the major airlines.
Financial results:
The airline reported a net income of $42.4 million during the fourth quarter 2002, compared to $63.5 million for fourth quarter 2001. Net income for the year was $241 million,
Southwest Airlines
Price Change
15.00 -0.79%
Data:
CNBC on MSN Money and S&P Comstock 20 min. delay.
compared to 2001 net income of $511.1 million.
Employment:
Southwest had 31,282 full time employees and 725 part time employees in January, 2002. In December 2002 it had 33,322 full time and 766 part time employees, according to the Air Transport Association.
Traffic:
Some 5.6 percent more passengers flew on Southwest in February than in February 2002.
Fuel costs:
Southwest Airlines is fully hedged for 2003 at $23 per barrel of crude oil, according to Standard & Poor’s.
Executive compensation:
Chairman and founder Herbert Kelleher earned $639,000 in salary, bonus and other compensation in 2001. His options were valued at about $107 million at the time.
Snapshot:
Southwest has benefited from a strategy based on a unified fleet (it only flies 737s); few frills, one class; direct routes; quick turnaround; direct booking and clever airport selection. Its strategies have become the stuff of legend.
--------------------------------------------------------------------------------
Alaska Airlines
Airline status:
The ninth largest airline, Alaska Air Group is a holding company for Alaska Airlines, Inc. and Horizon Air Industries. It is considered relatively strong because of its low cost strategy.
Financial results:
The airline reported a fourth quarter net loss of $43.1 million, or $1.62 per share, compared with a net loss of $37.4 million, or $1.41 per share, during the corresponding quarter in 2001. For the full year, it lost $118.6 million or $4.47 per share in 2002.
Employment:
Alaska Air had 9,141 full time employees and 1,323 part time employees
Alaska Airlines
Price Change
16.81 -1.41%
Data:
CNBC on MSN Money and S&P Comstock 20 min. delay.
in January, 2002. In December 2002 it had 9,521 full time and 1,302 part time employees, according to the Air Transport Association.
Traffic:
February traffic increased 5.8 percent to 979.6 million revenue passenger miles from 925.8 million flown a year earlier.
Fuel costs:
It has hedged 35 percent of its 2003 needs at $22 a barrel, according to Deutsche Bank analysts.
Executive compensation:
John Kelly, appointed CEO this year, earned $533,000 in 2001. His stock options were valued at $1.2 million at the time.
Snapshot:
Alaska Air serves a medium-sized, but competitive route network. But it is in a favorable financial position, relative to many other U.S. airlines because of its relatively low operating costs and relatively strong financial profile.
--------------------------------------------------------------------------------
DELTA AIR LINES
Airline status:
Delta is the third biggest airline in the U.S. and among the healthiest, though losses are widening.
Financial results:
Delta said it expects a bigger loss for the first quarter 2003, compared with the net loss of $397 million, or $3.25 a share, that it recorded for the same period a year ago. It reported a fourth quarter net loss of $363 million, or $2.98 loss per common share. For the full year 2002, the net loss was $1.3 billion, or $10.44 loss per share.
Delta Airlines
Price Change
9.70 -1.12%
Data: CNBC on MSN Money and S&P Comstock 20 min. delay.
Employment:
Delta has plans to cut about 16,000 jobs by mid-2003, about 21 percent of its work force, compared with pre- Sept. 11, 2001 levels.Delta had 60,170 full time employees and 11,194 part time employees in January, 2002. In December 2002 it had 60,002 full time and 8,701 part time employees, according to the Air Transport Association.
Traffic:
On March 24, the Atlanta-based carrier said it would cut back flights by 12 percent. As of March 1, Delta and its subsidiaries served 219 domestic cities in 46 states, as well as 47 international cities in 32 countries. Including all its units and partners, it flies 5,643 flights each day to over 438 cities in 78 countries. Delta has the most trans-Atlantic routes of major U.S. carriers. Because it serves destinations mostly on the Continent, and its alliance partner is Air France, it should be less affected by the war-time decline in trans-Atlantic bookings, as France is not involved in the hostilities, Standard & Poor’s estimated.
Fuel costs:
About 66 percent of Delta’s fuel needs for the first half of the year are hedged at $25-$26 a barrel, according to Deutsche Bank analysts.
Executive compensation:
Leo Mullin, chairman, CEO, was paid a salary of $795,000 and a bonus of $1.4 million in 2002, compared with a salary of $596,250 and no bonus in 2001.
Snapshot:
In a March 25 filing with the SEC, Delta said it expects to record a net loss this year, blaming depressed revenue, fewer customers and high costs. "Economic analysts indicate that recovery is unlikely before 2004, if then," Mullin said.The company said it expects 2003’s pension, interest and fuel expenses to rise $600 million to $800 million over last year.
--------------------------------------------------------------------------------
Northwest Airlines
Airline status:
Northwest, the world’s fourth largest airline. is relatively healthy, with a ton of liquidity and minimal cash outlay this year since its planes are paid for.
Financial results:
The airline reported a fourth quarter net loss of $488 million or $5.68 per share, compared to a fourth quarter 2001 net loss of $216 million or $2.55 per share. For the full year 2002, Northwest reported a net loss of $798 million, including unusual items, which compares to a full year 2001 reported net loss of $423 million.
Employment:
On March 21, Northwest announced it would cut 4,900 jobs before the end of the year and reduce its flight schedule by 12 percent. It has already had laid off about 12,000 employees due to the slump in the airline industry.
Northwest Airlines
Price Change
8.10 +0.25%
Data:
CNBC on MSN Money and S&P Comstock 20 min. delay.
Northwest had 42,824 full time employees and 1,833 part time employees in January, 2002. In December 2002 it had 42,463 full time and 1,898 part time employees, according to the Air Transport Association.
Traffic:
During February, traffic was 1.1 percent greater than a year ago. Northwest operates about 1,500 daily flights. With its travel partners, it serves nearly 750 cities in almost 120 countries on six continents.
Fuel costs:
Northwest hedged all its fuel needs at between $23 and $31 a barrel for the first quarter. For the second-quarter, half its needs hedged at between $22 and $29 a barrel, and 71 percent of third-quarter at $24 a barrel and 50 percent of fourth-quarter at $24 a barrel, according to Deutsche Bank analysts.
Executive compensation:
Gary Wilson, has been chairman since 1997. His compensation was not available.
Snapshot:
Doug Steenland, Northwest's president, said passenger bookings on some days recently have been down 30 percent from year-ago levels. In Mid-March, the credit rating agency Moody’s, considering the impact of war, said “it is increasingly clear that despite reductions, operating costs have not been reduced sufficiently to accommodate the current business environment and most carriers, including Northwest continue to experience significant operating losses and cash flow deficits.
--------------------------------------------------------------------------------
US Airways
Airline status:
US Airways, the nation’s seventh largest airline, filed for Chapter 11 protection on Aug. 11, 2002.
Financial results:
The carrier reported a net loss of $794 million for the fourth quarter 2002, on operating revenues of $1.61 billion, compared to a net loss of $1.16 billion on operating revenues of $1.57 billion for the fourth quarter 2001.
US Airways
Price Change
0.12 -0.86%
Data:
CNBC on MSN Money and S&P Comstock 20 min. delay.
For the full year 2002, it reported a net loss of $1.65 billion on operating revenues of $6.98 billion, compared to a net loss of $2.12 billion on operating revenues of $8.29 billion for the same period in 2001.
Employment:
US Airways had 32,985 full time employees and 3,295 part time employees in January, 2002. In December 2002 it had 28,612 full time and 3,093 part time employees, according to the Air Transport Association.
Traffic:
Twenty-two percent fewer passengers flew with US Airways in February than in February 2002. Revenue passenger miles for February decreased 15.8 percent compared to a year ago. A shutdown of US Airways, which carries about 6 percent of total U.S. airline traffic, would benefit other airlines that have a significant presence along the East Coast, notably Delta, Continental, and American, according to a report by Standard & Poor’s.
Fuel costs:
US Airways has not hedged its fuel costs.
Executive compensation:
David Siegel was appointed CEO in 2002. Compensation data is not available. Stephen Wolf earned $1.4 million in 2001 as chairman.
Snapshot:
On March 22, the airline and its pilots' union reached an agreement on an underfunded pension plan that cleared a critical hurdle to the carrier's emergence from Chapter 11 bankruptcy. The agreement freed more than $1 billion in financing.
--------------------------------------------------------------------------------
Southwest Airlines
Airline status:
Top of the heap. Southwest is in the strongest financial shape of any of the major airlines.
Financial results:
The airline reported a net income of $42.4 million during the fourth quarter 2002, compared to $63.5 million for fourth quarter 2001. Net income for the year was $241 million,
Southwest Airlines
Price Change
15.00 -0.79%
Data:
CNBC on MSN Money and S&P Comstock 20 min. delay.
compared to 2001 net income of $511.1 million.
Employment:
Southwest had 31,282 full time employees and 725 part time employees in January, 2002. In December 2002 it had 33,322 full time and 766 part time employees, according to the Air Transport Association.
Traffic:
Some 5.6 percent more passengers flew on Southwest in February than in February 2002.
Fuel costs:
Southwest Airlines is fully hedged for 2003 at $23 per barrel of crude oil, according to Standard & Poor’s.
Executive compensation:
Chairman and founder Herbert Kelleher earned $639,000 in salary, bonus and other compensation in 2001. His options were valued at about $107 million at the time.
Snapshot:
Southwest has benefited from a strategy based on a unified fleet (it only flies 737s); few frills, one class; direct routes; quick turnaround; direct booking and clever airport selection. Its strategies have become the stuff of legend.
--------------------------------------------------------------------------------
Alaska Airlines
Airline status:
The ninth largest airline, Alaska Air Group is a holding company for Alaska Airlines, Inc. and Horizon Air Industries. It is considered relatively strong because of its low cost strategy.
Financial results:
The airline reported a fourth quarter net loss of $43.1 million, or $1.62 per share, compared with a net loss of $37.4 million, or $1.41 per share, during the corresponding quarter in 2001. For the full year, it lost $118.6 million or $4.47 per share in 2002.
Employment:
Alaska Air had 9,141 full time employees and 1,323 part time employees
Alaska Airlines
Price Change
16.81 -1.41%
Data:
CNBC on MSN Money and S&P Comstock 20 min. delay.
in January, 2002. In December 2002 it had 9,521 full time and 1,302 part time employees, according to the Air Transport Association.
Traffic:
February traffic increased 5.8 percent to 979.6 million revenue passenger miles from 925.8 million flown a year earlier.
Fuel costs:
It has hedged 35 percent of its 2003 needs at $22 a barrel, according to Deutsche Bank analysts.
Executive compensation:
John Kelly, appointed CEO this year, earned $533,000 in 2001. His stock options were valued at $1.2 million at the time.
Snapshot:
Alaska Air serves a medium-sized, but competitive route network. But it is in a favorable financial position, relative to many other U.S. airlines because of its relatively low operating costs and relatively strong financial profile.
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