Manufacturing Industry
America West Holdings revises preliminary figures
Airline Industry Information, March 9, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
America West Holdings Corporation (NYSE: AWA), the parent company of America West Airlines Inc, has revised its previously reported preliminary financial results for the fourth quarter and the year ended 2004.
The results were reported in a statement dated 21 January 2005. According to the company, the revision is a result of an accounting change associated with the recognition of gains or losses on derivative instruments used as a means for reducing financial exposure to fluctuating jet fuel prices.
Due to the accounting change, the consolidated statements of operations for the year ended 31 December 2004 will show a net loss of USD89.0m for the holding company and USD85.3m for the airline, compared to the previously reported net loss of USD89.9m and USD86.1m, respectively.
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