AA gjør det ikke så skarpt..... Som dere ser, har AA tapt USD 50 mill på kaoset på LHR.. Så for CO er det jo fint at de kun har 4 flygninger til London pr. dag, ingen til LHR, da unngikk de det tapet.
UA melder følgende: CHICAGO, Oct. 16, 2006 - UAL Corporation (NASDAQ: UAUA), the holding company whose primary subsidiary is United Airlines, announced today that the company will release its third quarter financial results on Tuesday, Oct. 31, 2006 and hold its financial conference call that day at 10:30 a.m. EDT. A live, listen-only mode webcast will be available on the Investor Relations section of united.com (http://www.united.com/ir).
AA melder: FORT WORTH , Texas – AMR Corporation, the parent company of American Airlines, Inc., today reported a net profit of $15 million for the third quarter of 2006, or $0.06 per share fully diluted. The results include a $99 million non-cash charge in Other Income (Expense) to reduce the book value of certain outstanding fuel hedge contracts. Excluding this special item, AMR reported a profit of $114 million, or $0.45 per share fully diluted.
The current quarter results compare to a net loss of $153 million, or $0.93 per share fully diluted, in the third quarter of last year. Excluding the $58 million net negative impact of two special items, the net loss in the third quarter of 2005 would have been $95 million, or $0.58 per share.
“We are pleased to report a profit for the third quarter, which represents the first time in nearly six years that we have recorded a profit in two consecutive quarters,” said AMR Chairman and CEO Gerard Arpey. “These results show continuing improvements in the Company’s core business operations, even in the face of new challenges. But we also have more hard work ahead of us as we build a company that is better positioned for long-term success. ”
Arpey lauded employees for their resiliency and poise in the face of heavy summer traffic and the new security rules imposed after the London security threat in August. But, he also noted that competition from low-cost carriers and competitors that have gained cost advantages through the bankruptcy reorganization process remains a significant challenge.
AMR reported third quarter consolidated revenues of more than $5.8 billion, an increase of 6.6 percent year over year. In the third quarter, Other revenues, including sales from such sources as confirmed flight changes, purchased upgrades, buy-on-board food services and third-party maintenance work, increased 13.3 percent year over year to $333 million. The Company estimates that the London security threat in August reduced revenues in August and September by more than $50 million.
American's mainline load factor - or the percentage of total seats filled - was a record 81.7 percent during the third quarter. Yield, which represents average fares, increased 7.0 percent compared to the third quarter of 2005, and passenger revenue per available seat mile for the third quarter increased 7.7 percent year over year.
American's mainline cost per available seat mile in the quarter was up 3.8 percent year over year. Excluding fuel and special items, the airline's unit cost for the third quarter increased 1.0 percent year over year.
Lower fuel prices have reduced the Company’s projected fuel costs for the second half of the year by $528 million compared to the guidance that AMR provided on July 19, 2006.
“While falling fuel prices provide significant benefits to our company, fuel prices remain at historically high levels and continue to be volatile,” Arpey said. “That’s a reminder that we must continue our efforts to conserve fuel and reduce other expenses.”
The recent declines in fuel prices resulted in a $99 million non-cash accounting charge in Other Income (Expense) in the third quarter of 2006 to reduce the book value of certain outstanding fuel hedge contracts, as required by Statement of Financial Accounting Standard 133, “Accounting for Derivative Instruments and Hedging Activities” (SFAS 133). This non-cash charge will largely reverse itself in subsequent quarters.
AMR regularly uses fuel hedging instruments, including options and collars, to dampen the impact of volatile fuel prices. The Company’s fuel hedging activities reduced
fuel expenses by more than $300 million during the period from 2003 through 2005, and have reduced year-to-date 2006 fuel expense by $66 million .
AMR’s cash and short-term investment balance was $5.5 billion, including a restricted balance of $464 million, at the end of the third quarter of 2006. In addition to making scheduled principal payments of $1.1 billion through the date of this release, AMR has repurchased approximately $128 million of debt since January 2006. Going forward, depending on market conditions, AMR’s cash position and other considerations, AMR may from time to time redeem or repurchase its debt or take other steps to reduce its debt or lease obligations.
AMR continues to execute on the strategy laid out in its Turnaround Plan by working together with employees to identify ways to reduce costs, grow revenues, improve the customer experience and simplify its operations. A few recent examples:
American in September signed a 5-year service agreement with the U.S. Postal Service potentially worth $500 million in revenue to American, which is the largest single contract ever awarded to the Company’s Cargo division.
Also in September, a team of Transport Workers Union (TWU) employees at American line maintenance bases and management set a goal to obtain $95 million of annual value creation for the airline by the end of 2008. That announcement followed more than $1 billion in similar goals set previously by maintenance employees at the Company’s Tulsa, Kansas City and Fort Worth maintenance bases.
The Company last month said it will expand culinary options and overall service in First and Business class cabins as part of its investment in premium class services.
Continuing efforts to bolster its international business, American in July filed an application with the United States Department of Transportation to operate daily nonstop service between Dallas/Fort Worth International Airport and Beijing, China, starting in March 2007. The proposal has received wide-ranging public support.
The collaboration over the past several years between management, unions and employees helped produce a positive result in August, when Congress passed a bill that enhances AMR’s ability to fund its pension obligations. Arpey noted that AMR was able to contribute $104 million to its various defined benefit pension plans since the end of the second quarter, bringing its total 2006 contributions to the plans to $223 million through October 13, 2006.
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