dlen111
Apr 20, 05, 7:04 am
AmWest makes money; But not AA, Continental.
America West swung to a surprising first-quarter profit, the carrier said today just as rumors about a possible merger with US Airways take off. The carrier said it earned $33.6 million (62 cents per share) in the quarter, a figure that improved considerably from the airline's $1.6 million (4 cents per share) from the same quarter last year. Excluding special items, including a gain of $60.5 million from hedging fuel transactions, the airline would have lost $10.8 million (30 cents a share). But even that figure would have easily beat Wall Street's estimate of a loss of about 61 cents per share. "Although our first-quarter results continue to reflect the impact of high fuel prices, we are extremely pleased with our performance relative to our competitors," said America West CEO Doug Parker. But, the surprising profits ended with America West.
America West swung to a surprising first-quarter profit, the carrier said today just as rumors about a possible merger with US Airways take off. The carrier said it earned $33.6 million (62 cents per share) in the quarter, a figure that improved considerably from the airline's $1.6 million (4 cents per share) from the same quarter last year. Excluding special items, including a gain of $60.5 million from hedging fuel transactions, the airline would have lost $10.8 million (30 cents a share). But even that figure would have easily beat Wall Street's estimate of a loss of about 61 cents per share. "Although our first-quarter results continue to reflect the impact of high fuel prices, we are extremely pleased with our performance relative to our competitors," said America West CEO Doug Parker. But, the surprising profits ended with America West.