[blockquote]
----------------
On 12/31/2002 9:29:47 PM Rhino wrote:
"Operating losses don't include one-time special charges usually."
Actually, they usually do. Check UAL's 3rd Q 2001, and some of DAL recent reports. When you take a depreciation hit, it is usually classified under "operating" losses. Keep in mind that the 3.2 number refers to what the "tax" books look like. Much diff depreciation rules for taxes vs annual reports.
"It's almost unbelievable how the UAL situation got so bad so fast. Hope things stabilize and that you're right about being able to meet DIP requirements."
Thanks
----------------
[/blockquote]
----------------
On 12/31/2002 9:29:47 PM Rhino wrote:
"Operating losses don't include one-time special charges usually."
Actually, they usually do. Check UAL's 3rd Q 2001, and some of DAL recent reports. When you take a depreciation hit, it is usually classified under "operating" losses. Keep in mind that the 3.2 number refers to what the "tax" books look like. Much diff depreciation rules for taxes vs annual reports.
"It's almost unbelievable how the UAL situation got so bad so fast. Hope things stabilize and that you're right about being able to meet DIP requirements."
Thanks
----------------
[/blockquote]