US Airways reports quarterly loss of $24 million

NEW YORK, July 18 (Reuters) - US Airways Group Inc. (NYSE:U - news), the No. 6 U.S. airline, on Wednesday posted a second-quarter loss of $24 million, hurt by the business travel slowdown, tight East Coast competition and high fuel prices.

Arlington, Va.-based US Airways, which is mired in legal wrangling over its stalled takeover by UAL Corp.'s (NYSE:UAL - news) United Airlines, said the loss was equal to 36 cents a share, compared with a profit of $80 million, or $1.19 a share, a year earlier.

http://biz.yahoo.com/rf/010718/nbt016773.html

<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by doc:
US Airways reports quarterly loss of $24 million</font>not bad if they were originally expecting a $40-45m loss. And in comparison to AA and UA's losses...

But isn't US Getting $50 million from UA if the merger doesn't go through (contract reneging)? So that loss would essentially be nullified, right?

<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by dreadmon:
But isn't US Getting $50 million from UA if the merger doesn't go through (contract reneging)? So that loss would essentially be nullified, right?</font>

Even if UA made a good faith effort to push the merger through US gets $50 million ...

If UA did not make a good faith effort to push the merger through, that number could go higher ...

vs. a Q2 loss of $292 million over at UA. Wasn't US supposed to be the big looser of this failed merger, the small underdog unable to survive ???

<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by cesco.g:
vs. a Q2 loss of $292 million over at UA. Wasn't US supposed to be the big looser of this failed merger, the small underdog unable to survive ???</font>

Yow! Had no idea it was THAT big. It's no wonder (unfortunately) that UA wants to take over a smaller, less-unprofitable airline.

Hopefully the merger will die, US will turn it around (with or without Wolf and Gangwal's help), and I can use my miles in the *A http://www.flyertalk.com/forum/smile.gif . Hey a guy can dream can't he?

US Air vows revamp if UAL deal dies

http://www.thedeal.com/cgi- bin/gx.cgi/AppLogic+FTContentServer?pagename=FutureTense/Apps/Xcelerate/Render&c=TDDArticle&cid=TDDGNGHUAPC&preview=true (http://www.thedeal.com/cgi-bin/gx.cgi/AppLogic+FTContentServer?pagename=FutureTense/Apps/Xcelerate/Render&c=TDDArticle&cid=TDDGNGHUAPC&preview=true)


Goldman raises US Airways
NEW YORK, July 19 (Reuters) - Goldman Sachs said on Thursday that it raised US Airways Group Inc.'s (NYSE:U - news) investment rating to market perform from market underperform after the airline reported a smaller-than-expected loss.

Analyst Glenn Engel said US Airways had used tight cost controls to limit its loss to $24 million or 36 cents a share during the second quarter. Engel said in a research note that he had a forecast the carrier losing 80 cents a share.

http://biz.yahoo.com/rf/010719/n7j375612_2.html

[This message has been edited by doc (edited 07-19-2001).]

Although US has a small net loss, it actually had an &gt;operating&lt; profit of about $20M.

I guess things at US aren't all gloom and doom; especially in comparison to the other airlines.

[This message has been edited by BillMorrow (edited 07-20-2001).]