No squandering. They right sized the company and between the years 1996-1999, the company showed sustaining profits accumulating $1 billion net profit. In addition, the stock soared from $35 a share o a high of $82 by 1999.
Memory serves ME better.
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Chief Seeks Harmony, for Now, As He Tries to Cut Labor Costs
*Please Note: Archive articles do not include photos, charts or graphics. More information. April 9, 1997, Wednesday
By ADAM BRYANT (NYT); Business/Financial Desk
Late Edition - Final, Section D, Page 1, Column 2, 2149 words
DISPLAYING ABSTRACT - US Airways chairman-chief executive Stephen M Wolf wants to lower carrier's costs sharply, but he wants to do it with labor's help; as he tried to turn around the airline, which has lost $2.4 billion in last decade, he has vowed that there will be not power struggle; if Wolf does not get his way, he is likely to use measured steps, such as steady shrinking of the airline, to win an agreement with labor leaders without direct confrontation; this week, Wolf kicks off series of meeting with employees at which he will undoubtedly try to persuade them that more drastic measures are needed to bring US Airways' high costs in line with those of rivals
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So a loss of 2.4 billion equates to a profit of 1 billion?