Northwest Airlines Reports First Quarter 2003 Results
- Thread starter BillLumbergh
- Start date
"Operating cost per seat mile (CASM) increased 5.2% compared to the first quarter of 2002. Excluding the unusual items and fuel, unit costs decreased 3.1%."
Funny how lately it''s been those "unusual" items that keep driving up the costs. When they are excluded, the cost has decreased significantly. One has to wonder how much of those "unusual items" are manipulated by NWA management. It certainly isn''t the labor costs that are increasing, unless you want to factor in the mgt bonuses and raises.
Funny how lately it''s been those "unusual" items that keep driving up the costs. When they are excluded, the cost has decreased significantly. One has to wonder how much of those "unusual items" are manipulated by NWA management. It certainly isn''t the labor costs that are increasing, unless you want to factor in the mgt bonuses and raises.
ITRADE
Veteran
Well, personally I think corporations use "extraordinary items" far too much in their earnings reports. When you see similar items every quarter, its no longer extraordinary.
That said, did NW lay off any people for which they had to pay severance packages? Actions such as that or furloughs might carry a one-time cost which may be accounted for here.
That said, did NW lay off any people for which they had to pay severance packages? Actions such as that or furloughs might carry a one-time cost which may be accounted for here.
The furloughed pilots'' severance package includes one WHOLE month of health insurance at employee cost. Everything else fell by the wayside, as the decline of the economy falls under "force majeure", a new code word for "anything beyond our CEO''s immediate control". Oh yeah, and if we accept some format of concessionary contract this fall, there should be plenty of money left over for a decent raise for Anderson and Steenland...
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