Its worse at Airways than originally reported!

[spitfire1500]

US Airways restates net loss
Wed May 4, 2005 06:27 AM ET
NEW YORK, May 4 (Reuters) - Bankrupt US Airways (UAIRQ.OB: Quote, Profile, Research) on Wednesday said it took a $91 million charge in its recently reported first quarter related to the termination of three benefit pension plans.

Consequently, the company's net loss for the quarter was $282 million, or $5.13 a share, as opposed to the net loss of $191 million reported for the quarter last Friday.


This thing is a dead dog! USAir needs one more investor to get the CHQ money and I dont see anyone running up to the plate and the Air Whisky money is probably burnt through already. HP and Airways certainly dont have the money for a merger and I believe June 10 is a loan payment day for USAir.

 

[WSurf]

Yeaaaaaa,

And everyone else besides the hedging Southwesterner's are losing cash!!!! I hope we close up before summers end! The beach would be nice for the summer. I could got down to West Palm and hang out with my new friends!!!! "Bring me a beer Teddy"

 

[USAirways1149]

if I had a nickel for every time someone predicted the demise of US Airways...

 

[mamba20]

Alright, anyone who didnt see a 1Q loss for US Airways must be smoking something. Traditionally the slowest Q for any airline. Not to mention that U is till reorganizing. The loss that U had is status quo right now and is actually on the lighter side of the losses. . . did anyone happen to see what kind of a loss delta posted?

 

[CurlyD777]

Just remember guys that you can depreciate the value lots of airplanes when you want to show as a loss, it's not all just overhead/operating costs. Look at their cash status right now, it shows them around $500 million, enough to last at least to the end of the year, without any bonus money from other regionals. Posting profits and losses are all just smoke and mirrors.

 

[BeCareful!]

CurlyD -

Careful posting stuff like that. Most people here believe only what they read and will go ballistic when you imply that things at US are anything but dire.

The "experts" here will school you.....you'll see.

 

[BeCareful!]

oops!

 

[Ben Dover]

Just remember guys that you can depreciate the value lots of airplanes when you want to show as a loss, it's not all just overhead/operating costs.

Curly, you seem to have this accounting stuff figured out. If you have some spare time maybe you could help me straighten out my books...

 

[spitfire1500]

Alright, anyone who didnt see a 1Q loss for US Airways must be smoking something. Traditionally the slowest Q for any airline. Not to mention that U is till reorganizing. The loss that U had is status quo right now and is actually on the lighter side of the losses. . . did anyone happen to see what kind of a loss delta posted?

U reported their highest load factors in history and still lost 290 Mil !

 

[Guitar Guy]

U reported their highest load factors in history and still lost 290 Mil !

It's revenues and costs that determine profits, not load factors. Selling one seat for $1000 is better than selling 100 seats for one dollar a piece. One major problem for most airlines right now is the low revenue due to low ticket prices. The low ticket prices are definitely helping load factors, but that's about all.

 

[flatspin7]

U reported their highest load factors in history and still lost 290 Mil !

Its simple economics...

If it costs "X" to fly a passanger EWR-CLT and you charge Half of "X" you will lose money!!!!

The Majors needs to get their heads out of their a$$es institute a real fare increase to get costs right, offer superior service (like they used to 20 years ago) every one including USairways will be ok.

 

[Flic1]

I flew on US twice last week for the first time in a couple years and could not believe how dirty the airplanes were. Both were 733's with half the paint chipped off. It was absolutely horrendous inside with trash everywhere and filthy seats. I was also sweating on both flights since the cabin temp was too high. Luckily the flights were only an hour long. They need to get their act together if they want passengers to continue flying them. FA's were miserable too but I guess I can't blame them....

 

[Clutch_Cargo]

if I had a nickel for every time someone predicted the demise of US Airways...

I hear ya man... I've been hearing that since I got started in aviation 18 yrs ago. If it goes, it won't be the only one. What we're seeing is still the shaking-out of the industry from deregulation. Pretty soon we'll see the new boys in town buying the legacies... kind of the way a baby bell (SBC) is buying ma bell (AT&T). Anyway, along the same lines as US Airways losing money...

http://story.news.yahoo.com/news?tmpl=story&cid=677&e=3&u=/usatoday/20050504/bs_usatoday/strugglingairlinescanstayaloftforyears

 

[Traderd]

I hear ya man... I've been hearing that since I got started in aviation 18 yrs ago. If it goes, it won't be the only one. What we're seeing is still the shaking-out of the industry from deregulation. Pretty soon we'll see the new boys in town buying the legacies... kind of the way a baby bell (SBC) is buying ma bell (AT&T). Anyway, along the same lines as US Airways losing money...

http://story.news.yahoo.com/news?tmpl=story&cid=677&e=3&u=/usatoday/20050504/bs_usatoday/strugglingairlinescanstayaloftforyears

Clutch,

Thanks for the link to a good read. Looks like there are a lot of cards left to be played.

 

[gcsass]

U restates their losses...ooops, we forgot about that terminating the pensions thingy over in accounting....and in related news they hope to step up the "merger" process with HP

There can't be a correalation here can there?

Flashback to the UAL merger....we have to look dire and haggard...

 

[ultrarunner]

Its simple economics...

The Majors needs to get their heads out of their a$$es institute a real fare increase to get costs right

yeah, they need to "price fix" just like the gas companies. Seems to work for them. They are posting record profits.

 

[ultrarunner]

I flew on US twice last week for the first time in a couple years and could not believe how dirty the airplanes were. Both were 733's with half the paint chipped off. It was absolutely horrendous inside with trash everywhere and filthy seats.

I'd have to agree with you. I saw a couple of 73's at PHL a few weeks ago, and they were in horrible shape. Most of the paint gone from above the flight deck, and big enough chuncks gone off the side....

but, hey, it's U and money is tight, right?