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US Airways revenue jumps 17%, profits soar in 3Q2010

21-Oct-2010 1:10 PM

US Airways revenue jumps 17% - financial/traffic highlights for the three months ended 30-Sep-2010:

  • Revenue: USD3,179 million, +16.9% year-on-year;
  • Operating costs: USD2,864 million, +5.6%;
    • Fuel: USD625 million, +17.0%;
    • Labour: USD579 million, +4.7%;
  • Operating profit: USD315 million, +5,150%;
  • Net profit: USD240 million, compared to a loss of USD80 million in p-c-p;
  • Total assets: USD8,006 million, +7.4%;
  • Total liabilities: USD7,932 million, +1.6%;
  • Cash and investments: USD2,400 million, +20.0%;
  • Operating cash flow: USD789 million, +507%;
  • Passenger numbers: 20.9 million, +2.9%;
    • Mainline: 13.5 million, +3.4%;
  • Passenger load factor: 83.1%, +0.5 ppt;
    • Mainline: 84.4%, +0.4 ppt;
  • Yield: USD 14.79 cents, +13.6%;
    • Mainline: USD 12.79 cents, +14.4%;
  • Passenger revenue per ASM: USD 12.30 cents, +14.4%;
    • Mainline: USD 10.79 cents, +15.0%;
  • Revenue per ASM: USD 13.90 cents, +15.0%;
  • Cost per ASM: USD 12.52 cents, +3.9%;
    • Mainline: USD 11.34 cents, +3.1%;
  • 4Q2010 mainline forecast:
    • Capacity (ASMs): 71,400 million;
    • Cost per ASM excl fuel: -1% to +1%;
    • Cargo revenue: USD35 million;
    • Other revenue: USD310 million;
  • FY2010 mainline forecast:
    • Capacity (ASMs): 71,600 million;
    • Cost per ASM excl fuel: -1% to +1%;
    • Cargo revenue: USD140 million;
    • Other revenue: USD1,290 million. [more]

US Airways: “Upon exhausting our flight attendant furlough list later this year, we anticipate hiring new hire flight attendants in early 2011. Our third quarter results also include an accrual of USD25 million for our profit sharing program, and USD7 million for operational incentive payouts, bringing the total amount earned in 2010 through these programs to nearly USD60 million. Looking forward, our plan is simple:…maintain capacity discipline; aggressively manage our costs; and focus our assets in the markets that produce the best financial results for our airline,” Doug Parker, Chairman and CEO. Source: US Airways, 20-Oct-2010.