NYCommuter
Feb 18, 04, 8:55 am
From USA Today:
Good news .... at US Airways?
Don't write off US Airways just yet. The airline has more cash at this point than most analysts thought it would, and the carrier's revenues are headed up, while costs are shrinking. The much-talked about sell-off of some airline pieces is apparently not imminent, and unions have softened their stance against more concessions as US Airways prepares to do battle with low-fare giant Southwest in Philadelphia. In fact, management is "a lot closer to getting out of the woods than common lore gives them credit for," aviation consultant Michael Boyd tells the Pittsburgh Post-Gazette. He and other observers figure the carrier's ability to meet a series of federally backed loan milestones looks a lot more likely than just a few months ago. Another analyst called the amount of cash the airline has in its coffers "stunning." However, US Airways spokesman David Castelveter tried to temper the optimism, saying recent financial results show not enough progress has been achieved. As for a potential sale of US Airways' East Coast shuttle, AirTran and JetBlue are among the bidders for the popular route, though the company is now thought to view the sale as a "last resort." Posted 7:30 a.m. ET
Good news .... at US Airways?
Don't write off US Airways just yet. The airline has more cash at this point than most analysts thought it would, and the carrier's revenues are headed up, while costs are shrinking. The much-talked about sell-off of some airline pieces is apparently not imminent, and unions have softened their stance against more concessions as US Airways prepares to do battle with low-fare giant Southwest in Philadelphia. In fact, management is "a lot closer to getting out of the woods than common lore gives them credit for," aviation consultant Michael Boyd tells the Pittsburgh Post-Gazette. He and other observers figure the carrier's ability to meet a series of federally backed loan milestones looks a lot more likely than just a few months ago. Another analyst called the amount of cash the airline has in its coffers "stunning." However, US Airways spokesman David Castelveter tried to temper the optimism, saying recent financial results show not enough progress has been achieved. As for a potential sale of US Airways' East Coast shuttle, AirTran and JetBlue are among the bidders for the popular route, though the company is now thought to view the sale as a "last resort." Posted 7:30 a.m. ET