Year End Numbers

Dec 21, 2002
395
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9 million a day loss last qtr?? is that all? Way to go Dave..I did my part.
 

gilbertguy

Senior
Aug 29, 2002
368
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[blockquote]
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On 2/3/2003 5:08:32 PM autofixer wrote:

That is a loss of over $4.3 million per day! Wow!
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This is the management team that we need to pay $6 million bonuses for to retain!!!
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Dec 21, 2002
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[blockquote]
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On 2/3/2003 5:08:32 PM autofixer wrote:

That is a loss of over $4.3 million per day! Wow!
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[/blockquote]


oooopps! Whose math is off???
794 mil divided by 90 days..isn't that about 9 ????
 

autofixer

Veteran
Aug 20, 2002
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I averaged the entire year 2002: $1,600,000,000 divided by 365 days = $4,383,561. I guess that means the losses widened AFTER chapter 11 and the massive give backs!
 

Speedbird

Advanced
Aug 20, 2002
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For the amount of traffic this board gets I'm surprised that this thread has such little activity.

I guess "rumors" of who's sleeping with who in the mangement suite provide more entertainment than going over the metric data of reviewing the balance sheet.

Anyway, from my quick look at these numbers it appears like there has been very little payback for the draconian cuts that labor has been forced to give back. With a CASM of almost 10.4 cents, and the continuing steep losses it looks like the goal (ATSB requirement) of reaching 7% operating margins is still a far off dream.

I guess this means that labor will have to give some more.
 

dfw79

Senior
Aug 20, 2002
308
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US Airways, which filed for bankruptcy in August, narrowed its quarterly net loss by about one-third to $794 million,

The airline said it took a $742 million charge to its stockholders' equity during the fourth quarter for the increase in its pension liability.

Take away the one time charge and thats what...a loss of $52 million? Imagine what this will look like without the pension problems.
 

DLFlyer31

Senior
Aug 20, 2002
444
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[blockquote]
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On 2/4/2003 2:55:12 PM dfw79 wrote:

US Airways, which filed for bankruptcy in August, narrowed its quarterly net loss by about one-third to $794 million,

The airline said it took a $742 million charge to its stockholders' equity during the fourth quarter for the increase in its pension liability.

Take away the one time charge and thats what...a loss of $52 million? Imagine what this will look like without the pension problems.
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[/blockquote]

The $742 million charge to equity is not part of the $794 million loss, so your loss estimate of $52 million is not accurate.

USAirways states in the release that excluding special items, I they lost $295 million on actual operations.
 

autofixer

Veteran
Aug 20, 2002
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It is very sad that the restructuring goal of a CASM of 10.4 cents has been met, yet the massive losses continue. I still do not understand how a CASM of 10 cents was ever to compete with LUV or AirTran? I suppose if the yields were still at 17 cents it would be a different story.
 

wings396

Veteran
Aug 20, 2002
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Could it be possible that maybe we gave up way too much market share to the competition???? Pulled back on the schedule a bit too much so the competiton could swoop in a take away our passengers.
Or maybe Bonner's Liquidation threats scared away some unwanted passengers.....Way to go team.
 

Speedbird

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Aug 20, 2002
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I need to correct my numbers from my previous post.

I had stated that CASM was listed at 10.4c, but after going back and looking at the financials again I realized I had misread the info. Unfortunately, the actual CASM posted for the 12 months ending Dec 31, 2002 was 12.10c. The RASM was 10.38c for the same time period.

Now these numbers were determined by excluding all special charges and asset impairments. Another troubling set of numbers deals with the passenger load factor & break-even load factor numbers for the same time period. The LF was 71% & the BELF was 86.4%.

Obviously not very encouraging based on the vast amount of labor blood that has been spilled already.
 

fr8tmastr

Senior
Aug 20, 2002
482
46
I know maybe we should give management some more bonus money so as not to lose the talent, then some more pay cuts, as some of our employees make more than the short order cooks. Then increase penalties,and ticket costs for all the regualar passengers making sure that it's all so confusing nobody understands it. Place all blame squarely on the shoulders of the employees. And finally, cut back on all flights to florida and other hot places including Vegas to make sure revenue is down with the appropriate blame on employees. And pronounce yourself labor friendly! Oh yea, and a few more threats of liquidation will go along way to save the company.
 

diogenes

Veteran
Aug 22, 2002
2,515
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[blockquote]
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On 2/4/2003 9:48:13 PM fr8tmastr wrote:

I know maybe we should give management some more bonus money so as not to lose the talent, then some more pay cuts, as some of our employees make more than the short order cooks. Then increase penalties,and ticket costs for all the regualar passengers making sure that it's all so confusing nobody understands it. Place all blame squarely on the shoulders of the employees. And finally, cut back on all flights to florida and other hot places including Vegas to make sure revenue is down with the appropriate blame on employees. And pronounce yourself labor friendly! Oh yea, and a few more threats of liquidation will go along way to save the company.
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[/blockquote]
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And in the Palace, someone is saying, "they're on to us."
 

autofixer

Veteran
Aug 20, 2002
1,804
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CASM in excess of 12 cents per mile! In chapter 11 and after massive blood letting by the employees, shareholders and leasors? U is down to just a few types of aircraft and employees are paid at below market wages. What can management and the aviation media blame now? I was sceptical of the 10 cents per mile figure (that is why I voted no for the first TA) but 12 cents!!! Seigel should be put on a donkey, tarred and feathered and rode out of town! Travesty of a management!

Seigel was brought to U for one thing and one thing only, to bust the unions. These efforts will now ripple throughout the industry and that is his real intent and legacy.
 

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