Year end results... Finally
Feb 26, 2005, 5:39 pm
#1
Original Poster
Join Date: Jul 2004
Location: New Jersey, DC
Programs: Jetblue
Posts: 538
Year end results... Finally
http://www.flyi.com/company/pressarc...feb/022505.htm
Ouch... 53.2% load factor for the fourth quarter and 190 million dollar loss for the year.
Ouch... 53.2% load factor for the fourth quarter and 190 million dollar loss for the year.
Last edited by prhs1989; Feb 26, 2005 at 5:43 pm
Feb 26, 2005, 7:16 pm
#2
Join Date: Dec 2004
Location: Atlantic/Gulf Coast USA
Programs: Skyteam Elite, Starwood Gold, Kmart ShopYourWay Rewards
Posts: 1,361
Hopefully their loads will get better now that FlyI is on Orbitz, travelocity, etc and more people know them now. But still around 50% is pretty bad.
Feb 27, 2005, 6:20 pm
#3
Join Date: May 2001
Location: IAD
Posts: 6,148
In the 4th Q their breakeven load factor worked out to 106%. 
Feb 27, 2005, 9:33 pm
#4
Join Date: Dec 2004
Programs: United 1K, Delta Platinum Medallion, Starwood Platinum, HHonors Diamond, Hyatt Diamond
Posts: 96
I came up with a 104.9% BELF. But as with horseshoes & hand grenades, you and I are close enough.
The appaling thing is the cash burn. In 141 days (Oct 1 to Feb 18), they went through somewhere around $170 million in cash. Roughly $1.2 million per day. They had $126.3 million cash on hand on Feb 18; not a lot of cushion going into bankruptcy.
If they don't file chap 11 soon, they won't have enough cash on hand to be able to reorganize. Even if they file soon, it's dicey on whether or not they can emerge from bankruptcy. This is looking more and more like a straight chap 7 liquidation.
The appaling thing is the cash burn. In 141 days (Oct 1 to Feb 18), they went through somewhere around $170 million in cash. Roughly $1.2 million per day. They had $126.3 million cash on hand on Feb 18; not a lot of cushion going into bankruptcy.
If they don't file chap 11 soon, they won't have enough cash on hand to be able to reorganize. Even if they file soon, it's dicey on whether or not they can emerge from bankruptcy. This is looking more and more like a straight chap 7 liquidation.
Feb 28, 2005, 5:44 am
#5
Join Date: Feb 2005
Posts: 196
What about now?
o.k. 105% give or take for the last quarter. Now minus ($93.5 Million per year savings / 4 quarters = $23.375 million ), what does the break even load factor come out to now?