$305 Million 2Q Profit

[700UW]

Do you know the widebodies make a profit without any passengers being on them?

Do you know during early and mid 90s when US was losing money the only fleet to show a profit was the 767s.

US is the second largest airline in the Carribean, it was way more then a regional.

Don't let the facts get in your way.

 

[FWAAA]

Hot off the presses - here is a press release from ALPA about the earnings:

http://biz.yahoo.com/prnews/060727/dcth047.html?.v=59

 

[Tim Nelson]

kudos to everyone for a job well done!
Just a quickie question: those of us who are in the outsourced Fleet Service stations, do we also get in on that profit sharing thing or no? that would begreat if we could

Unless there was a new letter of agreement signed, it is my understanding that fleet service in entirety is excluded in profit sharing, and is the only group left out. This due to the fact that the IAM based the fleet service profit sharing on the assumption of 'BOD' approval. You wanna guess what happened? The BOD then disapproved it.

If the IAM continues to fail in a transition agreement due to its insistence on the so-called 'iron clad' arbitration that will put fleet service's pay back up to respectable levels, then fleet service will miss out again on benefits unless the merit of the IAM's greivance is finally convincing.

And if the IAM finally does arbitrate a grievance then the credit goes to the mechanics who are forcing IAM honesty by demanding and perhaps achieving an election to finally give the IAM what it deserves 'a boot'.

And FWIW: If the IAM does win the grievance then you can bet that the award would then be negotiated where the IAM takes some of the award in better language that protects them. This cost may mean that small stations stay at current pay levels even if the IAM wins the grievance.

regards,

Hot off the presses - here is a press release from ALPA about the earnings:

http://biz.yahoo.com/prnews/060727/dcth047.html?.v=59

Too bad IAM represented employees don't have representatives that recognize 'verbally' the things spoken of in the linked article. Oops, I forgot, the concession stand is closed!

regards

 

[BoeingBoy]

The analyst's are starting to check in.....

From Prudential's Bob McAdoo:

• US Airways reported June quarter earnings of $3.35 per diluted share, ex-items. Our estimate was $3.44 and consensus of $3.24.

• Unit revenues, or RASM, grew by 25.9 percent, continuing the industry trend from last quarter. US Airways continues to benefit from the reductions in flying taken as a result of the merger and reductions in flying by competitors.

• Non-fuel unit costs were up slightly, largely the result of the reductions taken in flying both on the America West and the US Airways systems. In addition, the company accrued $36 million in profit sharing, covering profits in the first 6 months of the year.

• We continue to rate US Airways as Overweight as we believe the revenue strength will continue throughout the year. In addition, the company continues to progress on its merger integration schedule with no major problems, giving us comfort that the cost structure will likely be maintained at these levels.

• There is a conference call to discuss earnings at 12:00 PM ET today. Weplan to provide added information after that call if there is material new information available at that time.

Jim

 

[700UW]

The BOD approved profit sharing for all IAM groups, M&R, MTS and Fleet.

The board disaproved stock, but profit sharing was approved.

Pages 149 and 150 of the Fleet CBA reads just like the M&R's profit sharing.

Why do you continue to spead misinformation?

 

[wench]

SO when do WE get our HARD earned $$$$$$, I USE THAT term loosly..
Its been a hell of a summer with oversold trips, first thing when you walk in at 5am!

How many total employees are there?

Ill calculate it myself!

 

[BoeingBoy]

The profit sharing is based on an annual profit, so we have to wait till there's an annual profit to get the checks. I presume they'll come after the annual report is issued, so expect Feb '07 at the earliest.

Roughly 35,000 employees.

Jim

 

[wench]

Your're kidding?

I was ready to buy a new bottle of parfume!

Damn there it went and didnt even have it hand.

 

[BoeingBoy]

Hopefully, the analyst's will be as accurate for the next two quarters as they were for the 2nd and the check will just be bigger.....

Jim

 

[LGA Fleet Service]

And giving you a career expectation you could only dream about...

Like what, the possibility of a furlough after eighteen years?

 

[luvthe9]

Amazing what a 47% paycut, giving away your pension and increased healthcare premiums and working flying 95 hours will for you, I guess we shouold have done this years ago.NOT!!!!!!!

 

[USstew23]

So why couldn't EAST make a profit before? <_<

Because our management didn't want to. They wanted to make a profit for themselves. Well everyone execpt for Lakefield, he was put there to get us out of that mess and now here we are.

 

[legacy-to-LCC]

Amazing what a 47% paycut, giving away your pension and increased healthcare premiums and working flying 95 hours will for you, I guess we shouold have done this years ago.NOT!!!!!!!

"be frugal; do more with less"
(an excerpt from dp's webcast presentation today)

 

[jcw]

It's amazing how fast a good profit turns negative. The ALPA release is over the top. Remember airline profits usually don't last long. Of the carriers will get crazy add alot of capacity and drive down revenue and profit.

 

[USstew23]

Like the 10 A330s and 10 767s? Wow...that's about the widebody size of Omni Air International. UAL and NWA and AMR are global airlines. They would have a valid "career expectations" argument. But not a NE regional carrier with a few widebodies. That just doesn't fly measured against the reasonable person standard.

And who do I thank for all concessions from your GAG that are now being imputed to AWA? How does that figure into "career expectations?"

Well let's see, it's 20 more widebodies than America's Worst would've EVER seen. So what were the career expectations for a SW regional carrier with NO widebodies? Just wondering if that measures up to a "reasonable" person's standard? Or perhaps the ALMIGHTY AMERICA WEST had a secret order for 100 787's/380's and were secretly planning to take over the world. Don't think so.