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http://biz.yahoo.com/ap/051109/earns_u_s_airways.html?.v=3
U.S. Airways Third-Quarter Deficit Grows
Wednesday November 9, 10:03 am ET U.S. Airways Third-Quarter Deficit Grows on Merger Costs, Rising Fuel Prices
TEMPE, Ariz. (AP) -- U.S. Airways Group Inc., which combined with America West Holdings Corp. in September, on Wednesday posted a sharply wider third-quarter loss as merger-related expenses and fuel costs weighed on its bottom line.
[SIZE=-2][/SIZE]
The company's loss grew to $87 million, or $5.04 per share, from $29 million, or $1.92 per share, last year. Excluding special items, the loss would have been $23 million, or $1.33 per share.
On average, analysts surveyed by Thomson Financial were expecting a quarterly deficit of $1.85 per share.
Operating revenue totaled $926 million, a 36 percent increase from $679 million a year earlier. Traffic increased 7.9 percent to 6.72 billion revenue passenger miles -- one customer flown a mile -- with capacity expanding by 9.9 percent. Occupancy of the carrier's planes fell, however, to 79.9 percent from 81.4 percent a year ago.
Operating costs rose roughly 45 percent, driven by merger expenses and a sharp increase in fuel costs.
At America West Airlines, the loss widened to $71 million from $28 million last quarter, while revenue advanced 25 percent to $846 million.
America West's quarterly traffic grew 1.7 percent to 6.33 billion revenue passenger miles as capacity rose 3 percent, but occupancy declined 1 percentage point to 80.4 percent.
U.S. Airways shares rose 26 cents to $29.69 in morning trading on the New York Stock Exchange.
U.S. Airways Third-Quarter Deficit Grows
Wednesday November 9, 10:03 am ET U.S. Airways Third-Quarter Deficit Grows on Merger Costs, Rising Fuel Prices
TEMPE, Ariz. (AP) -- U.S. Airways Group Inc., which combined with America West Holdings Corp. in September, on Wednesday posted a sharply wider third-quarter loss as merger-related expenses and fuel costs weighed on its bottom line.
[SIZE=-2][/SIZE]
The company's loss grew to $87 million, or $5.04 per share, from $29 million, or $1.92 per share, last year. Excluding special items, the loss would have been $23 million, or $1.33 per share.
On average, analysts surveyed by Thomson Financial were expecting a quarterly deficit of $1.85 per share.
Operating revenue totaled $926 million, a 36 percent increase from $679 million a year earlier. Traffic increased 7.9 percent to 6.72 billion revenue passenger miles -- one customer flown a mile -- with capacity expanding by 9.9 percent. Occupancy of the carrier's planes fell, however, to 79.9 percent from 81.4 percent a year ago.
Operating costs rose roughly 45 percent, driven by merger expenses and a sharp increase in fuel costs.
At America West Airlines, the loss widened to $71 million from $28 million last quarter, while revenue advanced 25 percent to $846 million.
America West's quarterly traffic grew 1.7 percent to 6.33 billion revenue passenger miles as capacity rose 3 percent, but occupancy declined 1 percentage point to 80.4 percent.
U.S. Airways shares rose 26 cents to $29.69 in morning trading on the New York Stock Exchange.
