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Author Topic: US Airways posts profit for 1st time since 2006 as well as Delta, UnitedContin'l  (Read 231 times)

Offline NovaSkegee

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Wednesday, Jan. 26, 2011


US Airways posts profit for 1st time since 2006



By SAMANTHA BOMKAMP
Associated Press

NEW YORK US Airways Group Inc. reported a fourth-quarter profit on Wednesday, as more people flew during the critical holiday travel period and paid higher fares.

It's the first time US Airways has made money in the last three months of the year since 2006. The major U.S. airlines have reported improved quarterly results due to increased travel demand and higher ticket prices.

The Tempe, Ariz., company, the fourth-largest U.S. airline, reported a profit of $28 million, or 17 cents per share. That compares with a loss of $79 million, or 49 cents per share, in the fourth quarter of 2009.

Revenue rose 11 percent to $2.91 billion. The money it made per passenger rose 3.4 percent in the quarter due to higher ticket prices and more money from fees for checked bags and special seats.

Analysts polled by FactSet Research expected a profit of 6 cents per share on revenue of $2.90 billion.

Fuel costs jumped 23 percent in the period, but overall expenses rose just 7 percent, as the airline trimmed elsewhere to make up for the jump in fuel.

One of the main ways US Airways reduced costs was by operating fewer planes. As a result the planes they flew were fuller. The occupancy rate on US Airways flights hit a record 80.6 percent in the fourth-quarter, which includes the important holiday period. The planes were 78.6 percent full, on average, a year earlier.

For the full year, the airline made a profit of $502 million, or $2.61 per share, compared with a loss of $205 million, or $1.54 per share, in 2009. Fuel prices were 28 percent higher last year than the year before. The money US Airways made per passenger rose 11 percent.

Shares rose 50 cents, or almost 5 percent, to $10.63 in morning trading.
« Last Edit: January 26, 2011, 03:39:49 PM by NovaSkegee »

Offline NovaSkegee

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Re: US Airways posts profit for 1st time since 2006
« Reply #1 on: January 26, 2011, 03:38:36 PM »
January 26, 2011


United Continental the world's biggest airline earned $160 million, or 44 cents per share, topping the expectations of Wall Street analysts

Associated Press

United Continental Holdings Inc. said it lost $325 million in the fourth quarter because of expenses from combining United and Continental airlines.

Excluding those costs, the world's biggest airline earned $160 million, or 44 cents per share, topping the expectations of Wall Street analysts, as passengers paid more to fly. Revenue for each seat flown one mile rose 11.5 percent.

Company-wide, revenue rose 15 percent to $8.4 billion.

Increased fares and traffic have helped the airline industry report improved fourth-quarter results. But rising fuel costs are a concern. United Continental paid $2.45 billion for fuel in the last three months of 2010, up 22 percent from a year ago.

United Continental expenses rose more than 10 percent for the quarter. Not counting fuel and other special items, expenses would have risen 1 percent, the company said.

United and Continental closed their merger on Oct. 1, and are now working to combine the two airlines into one. More than 200 planes have been repainted with United's name and Continental's globe logo on the tail. The Chicago-based company has also begun to integrate some computer systems. It had $482 million in merger expenses for the quarter.

The company ended the year with $8.7 billion in cash. It said it also paid down $148 million in debt earlier this month.

United Continental earned $854 million for the full year if results from both companies are included. On that basis, revenue rose almost 19 percent to $34 billion.
« Last Edit: January 26, 2011, 03:55:26 PM by NovaSkegee »

Offline NovaSkegee

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Delta Air Lines reports $19 million 4Q profit

By JOSHUA FREED
MINNEAPOLIS - Delta and the other major airlines are paying more for jet fuel, which means travelers will soon pay more to fly.

When it reported a fourth-quarter profit of $19 million on Tuesday, Delta said its fuel bill could rise by $1 billion this year, if oil prices stay where they are at about $92 a barrel. Delta's fuel bill rose 13 percent to $1.93 billion in the fourth quarter.

Delta and other airlines have already raised fares as jet fuel prices have climbed, and Delta said it could dial back its growth plans as well, if necessary.

Many Delta planes are paid for, leaving the airline free to park them if they can't be flown profitably. On Tuesday Delta said it would retire another 100 of its smallest planes over the next year and a half.

Delta's fourth-quarter profit was the first time in a decade that it made money during that time of year. Revenue rose 14 percent to $7.79 billion, more than analysts expected.

Offline NovaSkegee

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January, 20, 2011

Southwest Airlines quarterly profit climbs 13%

MarketWatch

NEW YORK-- Southwest Airlines Co. said its fourth-quarter net income rose 13% to $131 million, or 18 cents a share, from $116 million, or 16 cents a share, in they year-ago period.

Total operating revenue jumped nearly 15% to $3.11 billion. Excluding special items, the Dallas airline said it earned 15 cents a share.

Offline NovaSkegee

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Republicans are saying that president Obama didn't do a good job in just 2 years?


 

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