$45 Million Loss for October


Aug 22, 2002
Dow Jones Business News[BR]US Airways Group Posts $45.6 Million Net Loss For October[BR]Tuesday December 3, 11:28 am ET [BR][BR][BR][A href=http://biz.yahoo.com/djus/021203/1128000518_1.html]http://biz.yahoo.com/djus/021203/1128000518_1.html[/A]
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[The October report said US Airways had a total consolidated cash balance of $ 830.7 million.

If my memory serves me correctly, U had $1.33 billion as of 9-30-02 (3Q-02). 30 days later....$830 million. What happened to $502 million in cash?
[BLOCKQUOTE][BR]----------------[BR]On 12/3/2002 10:54:16 AM genejockey wrote:
[P]Dow Jones Business News[BR]US Airways Group Posts $45.6 Million Net Loss For October[BR]Tuesday December 3, 11:28 am ET [BR][BR]After incurring $553.4 million in operating expenses, the airline generated $ 18.9 million in operating income for the month. However, other expenses during October totaled $86.4 million, including a $20.9 million interest expense and a $67.5 million reorganization expense, offset by $2 million in other income.[BR][BR]----------------[/P][/BLOCKQUOTE]
[P]Well, if you took away the $67.5 reorganization expense, US would've had a profit.[/P]
US Airways Group Inc. reported a $45.6 million net loss for October on total operating revenue of $572.4 million, according to a Form 8-K filed Tuesday morning with the Securities and Exchange Commission.

This is actually pretty good news. Keep in mind the fact that the givebacks haven't had a chance to amount to much yet, and that the economy is still in the dumpster. Plus, the company is still paying out lots of servance, and a boatload of costs for all this reorganizing. It would seem to me with a couple of months time, the prior cuts will be plenty. If not, good old Dave can't handle the job anyway!
You don't suppose by any chance, this is why they are in such a hurry to push more cuts?
PineyBob wrote...
I like your posts, they are on point and insightful.
Assuming you're talking about me, and I know what they say about assuming, I thank you.
Going forward with this belief... Yes, my login name was a joke from the beginning. I chose it during the last round of fun, at which time many of the posters seemed to be blaming the mechanics for the state of our world. As you may have noted from my recent penile referance, I try and keep humor in all that I write.
Regardless of many points from the past, I do realize we airline employees need our passengers. However I would still point out, that no business can exist without those very same employees, so you also need us. Also, I would add that you never need to worry yourself over my well being, as I look out for me, and mine, first and foremost. I am well positioned for the future, unlike many of my worried coworkers. It is from this vantage point in fact, that I am able to speak my mind, regardless of how others react.
All the best to you, whatever the outcome.
But you see Bob, the point of so many of these posts are to fix the problem. The problem is, is that we the posters do not have the opportunity to put our hands on the controls.