Manufacturing Industry
US Airways Group reports loss for Q1
Airline Industry Information, April 29, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
US Airways Group Inc has reported a net loss of USD191m for the first quarter of 2005, compared to the USD177m net loss reported for the same period in 2004.
The airline said that excluding unusual items, the loss for Q1 was USD280m compared to USD177m in 2004. The company also said that the continuing high price of fuel has a negative impact on cash flow, when coupled with pressure on unit revenue.
The system passenger revenue per available seat mile (PRASM) for Q1 was USD0.0932, down 9.0% compared to Q1 2004. This reportedly reflects the pressure on fares in the East. US Airways Group said that for domestic operations, system PRASM fell 11.3% to USD0.0979. The statistics include mainline, MidAtlantic Airways, wholly owned airline subsidiaries of US Airways Group, and capacity purchases from third parties operating regional jets as US Airways Express. For the US Airways mainline operations alone, the PRASM of USD0.0859 fell by 7.8%.
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