USA legacy carriers 2015 1st qtr earnings


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source UNITED

Record first-quarter 2015 profit; fleet changes

We reported Thursday first-quarter 2015 net income of $582 million, or $1.52 per diluted share, excluding $74 million of special items. Including special items, we reported first-quarter net income of $508 million, or $1.32 per diluted share.
"We made solid progress on our long-term plan, and are doing what we said we would do by continuing to improve our operation, reduce our costs, grow our earnings and improve our efficiency through our Project Quality program. We also continued to invest in our products with new aircraft, improved food on board and in United Clubs, new inflight entertainment options and modern facilities.", Jeff Smisek, United CEO, stated.

• Our consolidated passenger revenue per available seat mile (PRASM) increased 0.4 percent for first-quarter 2015 compared to first-quarter 2014.
• First-quarter 2015 consolidated unit costs (CASM), excluding special charges, third-party business expenses, fuel and profit sharing, decreased 1.5 percent year-over-year on a consolidated capacity increase of 0.1 percent. First-quarter 2015 CASM, including those items, decreased 13.1 percent year-over-year.
• Ancillary revenue per passenger in the first quarter increased 8.6 percent year-over-year to more than $23 per passenger.
• We earned a 17.1 percent return on invested capital for the 12 months ended March 31, 2015.
• In the quarter, we returned approximately $200 million to shareholders as part of our previously announced $1 billion share buyback program.

In addition, we announced refinements to our fleet plan that will help us to achieve our longer-term network needs without increasing our planned capacity or capital expenditures over the next several years. The fleet adjustments will accelerate our network initiatives such as transitioning more flying to mainline and increasing average gauge. We plan to:
• Remove from the schedule more than 130 50-seat aircraft by the end of 2015 and more in the future as they come off lease.
• Exchange 10 Boeing 787 orders for 10 Boeing 777-300ERs for delivery beginning in 2016 to provide attractive upgauge and range opportunities at competitive economics.
• Improve reliability, financial performance and customer experience by extending the life of 11 more Boeing 767-300ERs (completing our full fleet of 21) through investments in winglets, reliability improvements and interior modifications.
• Reconfigure and transition 10 777-200 aircraft to the domestic network and, based on the 767-300ER extensions, reposition some trans-Atlantic Boeing 757-200 aircraft to domestic and Latin markets.
• Acquire additional used narrowbody aircraft, including leasing 10 to 20 narrowbodies for delivery over the next few years.


1Q Net Income (Loss)* 1Q Revenue 1Q Operating Margin1*
(in millions) (in millions)
2015 2014 2015 2014 2015 2014
$582 $(489) $8,608 $8,696 9.4% (3.4)%

Please click here for complete information about this quarter's financial performance.
http://newsroom.unitedcontinentalholdings.com/2015-04-23-United-Announces-Record-First-Quarter-Profit
 
East End Ave ha detto:
• Improve reliability, financial performance and customer experience by extending the life of 11 more Boeing 767-300ERs (completing our full fleet of 21) through investments in winglets, reliability improvements and interior modifications.
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Not particularly good news. Proprio non se ne vogliono disfare eh
 
AZ209 ha detto:
Not particularly good news. Proprio non se ne vogliono disfare eh
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ammazza oh, di tutto il buono della news, il turnover di quasi 1B$, i dividendi etc., hai spulciato l'unica notiziola "marginale" ! ;)
Si tratta di farli andare avanti ancora per un pochino, il tempo che arrivino i rimanenti 787 e i nuovi 777-300; la differenza coi gemellini di nostra buona conoscenza (...) e' che questi già' sono discreti, con IFE individuale e J Full Flat Bed, ma saranno ulteriormente refurbished all'interno e winglettati...
 
East End Ave ha detto:
ammazza oh, di tutto il buono della news, il turnover di quasi 1B$, i dividendi etc., hai spulciato l'unica notiziola "marginale" ! ;)
Si tratta di farli andare avanti ancora per un pochino, il tempo che arrivino i rimanenti 787 e i nuovi 777-300; la differenza coi gemellini di nostra buona conoscenza (...) e' che questi già' sono discreti, con IFE individuale e J Full Flat Bed, ma saranno ulteriormente refurbished all'interno e winglettati...
Clicca per espandere...
Grazie del chiarimento.

Riguardo ai risultati finanziari, complimenti a UA. Il Q1 non e' mai un trimestre particolarmente facile per il settore.
Il trend di grossi utili per le USA legacy carriers continua e si prevedono ulteriori record quest'anno.
 
ATLANTA, April 15, 2015 /PRNewswire/ -- Delta Air Lines (NYSE: DAL) today reported financial results for the March 2015 quarter. Key points include:

Delta's adjusted pre-tax income1 for the March 2015 quarter was $594 million, an increase of $150 million over the March 2014 quarter on a similar basis.
Delta's adjusted net income for the March 2015 quarter was $372 million, or $0.45 per diluted share, and its adjusted operating margin was 8.8 percent.

On a GAAP basis, Delta's March quarter pre-tax income was $1.2 billion, operating margin was 14.9 percent and net income was $746 million, or $0.90 per share.

Results include $136 million in profit sharing expense, recognizing Delta employees' contributions toward meeting the company's financial goals.

The company used its strong cash generation in the quarter to return $500 million to shareholders through dividends and share repurchases and to make $904 million in pension contributions.

"Delta's business is performing well, producing the best March quarter, both operationally and financially, in Delta's history," said Richard Anderson, Delta's chief executive officer. "While the strong dollar is creating headwinds with international revenues, it also contributes to the lower fuel prices which will offset those headwinds with over $2 billion in fuel savings this year. We are looking at June quarter operating margins of 16-18 percent with over $1.5 billion of free cash flow—these record results and cash flows show that the strong dollar is a net positive for Delta."

Revenue Environment

Delta's operating revenue improved 5 percent, or $472 million, in the March 2015 quarter compared to the March 2014 quarter. Traffic increased 3.6 percent on a 5.0 percent increase in capacity, which includes 2 points due to capacity removed in the first quarter of 2014 as a result of winter storms. Foreign exchange pressured revenue by $105 million for the quarter.

Passenger revenue increased 3 percent, or $246 million, compared to the prior year period. Passenger unit revenue (PRASM) decreased 1.7 percent year over year primarily driven by 1.5 points of negative foreign exchange impact.
Cargo revenue was unchanged from the prior year period as higher volumes offset lower yields.
Other revenue increased 22 percent, or $226 million, driven by SkyMiles revenues and third-party refinery sales.

Full DL Press Release and financial results @ http://news.delta.com/2015-04-15-Delta-Air-Lines-Announces-March-Quarter-Profit
 
Ottimi risultati anche per Delta, che pero' anche in visione del dollaro forte ha deciso di ridurre la capacita' del network intercontinentale per la prossima Winter15/16 ed aumentare quella domestica.
Fortunatamente il network italiano non verra' toccato da queste riduzioni.
 
WN reports first-quarter results
Southwest Airlines (WN) said its pre-tax first-quarter profit, excluding special items, amounted to $719 million, $517 million more than in the same period a year ago. Its pre-tax margin for the quarter was 16.3 percent, excluding special items. Its March quarter net income, including special items, was $453 million, a 198 percent increase over 2014.
WN said its total operating revenue rose 6.0 percent to $4.4 billion for the quarter. The company said its passenger unit revenue for the quarter rose 0.3 percent.
WN also said it intends to increase capacity, or available seat miles (ASMs), 7 percent in 2015 versus 2014.
The airline also said it has returned $381 million in cash to shareholders in 2015 through quarterly dividends and share repurchases.
 
Bravi! Adesso fateci vedere come si fanno investimenti sulla base di questi profitti megagalattici.

P.s. Ma come mai c'e' un esodo di executives dalle major US verso il golfo? Specialmente da UA?
 
Southwest Airlines Company (Dallas) today reported its first quarter 2015 results:



Record first quarter net income, excluding special items1, of $451 million, or $.66 per diluted share, compared with first quarter 2014 net income, excluding special items, of $126 million, or $.18 per diluted share. This represented a 266.7 percent increase from first quarter 2014 and exceeded the First Call consensus estimate of $.65 per diluted share.

Record first quarter net income of $453 million, or $.66 per diluted share, which included $2 million (net) of favorable special items, compared with first quarter 2014 net income of $152 million, or $.22 per diluted share, which included $26 million (net) of favorable special items.

Record first quarter operating income of $780 million. Excluding special items, record first quarter operating income of $770 million, resulting in an operating margin2 of 17.4 percent.

Strong free cash flow1 of $859 million used to return $381 million to Shareholders through dividends and share repurchases, and to repay $51 million in debt and capital lease obligations.

Return on invested capital, before taxes and excluding special items (ROIC)1, for the 12 months ended March 31, 2015, of 25.6 percent, compared with 14.2 percent for the 12 months ended March 31, 2014.

Gary C. Kelly, Chairman of the Board, President, and Chief Executive Officer, stated, “We are thrilled to report an exceptionally strong first quarter 2015 earnings performance. Our net income, excluding special items, of $451 million, or $.66 per diluted share, far surpasses any first quarter profit in our history and represents our eighth consecutive quarter of record profits. Our first quarter 2015 operating income, excluding special items, increased over 200 percent year-over-year to $770 million, resulting in a first quarter record 17.4 percent operating margin. Our ROIC for the 12 months ended March 31, 2015, was an outstanding 25.6 percent. These superb results earned our 47,000 hard-working and dedicated Employees a first quarter record $126 million profitsharing accrual, up 334.5 percent from first quarter 2014.

“Total operating revenues were a first quarter record $4.4 billion, driven by a 6.2 percent year-over-year increase in passenger revenues and double-digit year-over-year percentage growth in freight revenues. Customer demand was strong throughout first quarter 2015, resulting in a record first quarter load factor of 80.1 percent. As expected, first quarter 2015 passenger revenues grew in line with our available seat mile (ASM) growth of 6.0 percent, year-over-year. Considering the 4.1 percent increase in stage length and the 2.7 percent increase in seats per trip3 (gauge) from our fleet modernization, year-over-year, we are very pleased with our first quarter 2015 unit revenue performance. Strong revenue and booking trends have continued thus far in April. Second quarter 2015 year-over-year comparisons are more challenging, largely due to last year’s exceptional and above-trend performance. With the continuation of year-over-year increases in stage length and gauge, we currently expect our April 2015 passenger unit revenues to decline, year-over-year, approximately two percent.

“We are delighted also with our unit cost trends, which continue to benefit from increased stage length, increased gauge, lower maintenance costs, and substantially lower fuel prices. Our first quarter 2015 unit costs, excluding special items, declined 12.4 percent year-over-year. First quarter 2015 economic fuel costs were $2.00 per gallon, compared with $3.08 per gallon in first quarter 2014, resulting in over $450 million in economic fuel cost savings. Based on our existing fuel derivative contracts and market prices as of April 16, 2015, we estimate second quarter 2015 economic fuel costs per gallon will be comparable to first quarter 2015’s $2.00 per gallon.

“Setting fuel aside, the solid first quarter 2015 cost performance reflects our intense focus to control costs and maintain our competitive low-cost position. Excluding fuel and oil expense and special items, our first quarter 2015 unit costs were comparable to first quarter last year. Unit costs were down 3.6 percent, year-over-year, when also excluding first quarter 2015 profitsharing expense. Based on current cost trends, and excluding fuel and oil expense, special items, and profitsharing, we expect second quarter 2015 unit costs to decline in the one-to-two percent range, and full year 2015 unit costs to decline approximately two percent, both compared with the same year-ago periods.

“Our network optimization is producing strong financial results, and we are pleased with the performance of our markets under development. We continue to project roughly 700 aircraft by year-end, and an approximate seven percent year-over-year increase in ASMs versus 2014. The full year effect of 2015’s expansion is also estimated to increase 2016 ASMs approximately five percent, year-over-year, and we currently expect any further 2016 ASM year-over-year growth to be modest, with a focus on producing strong returns on our investments. Our incremental fleet growth in 2016 is currently expected to approximate two percent, compared with 2015.

“The Customer response to our new Dallas Love Field service, which represents the majority of 2015 year-over-year ASM growth, is very strong, and first quarter 2015 Dallas traffic has increased 145.5 percent from year-ago levels. In first quarter 2015, we acquired the rights to two additional gates, bringing our total gate occupancy to 18 at Dallas Love Field. By August 2015, we are scheduled to operate 180 weekday departures to 50 nonstop destinations, representing a more than 50 percent increase in flight activity since the lifting of the Wright Amendment restrictions4 in October 2014. We are very pleased to provide more competition, more travel options, and low fares for the Dallas market.

“Our international expansion also continued during first quarter 2015. On March 7, 2015, Costa Rica became our sixth international country served with daily nonstop service between Baltimore/Washington and San Jose, Costa Rica. We also launched international flying from Houston Hobby with seasonal Saturday service to Aruba5. We remain on track to add an additional six international destinations from Hobby later this year with the planned October completion of the international terminal. We look forward to beginning service to Puerto Vallarta, Mexico, in June 2015, and pending government approvals, Belize City, Belize, in October 2015.

“We are managing our invested capital aggressively and continue to provide healthy returns to our Shareholders. During first quarter 2015, we returned $381 million through the payment of $81 million in dividends and the repurchase of $300 million in common stock. And, we expect to complete the repurchase of the remaining $80 million under our existing $1 billion share repurchase authorization next month. Our balance sheet, liquidity, and cash flows remain strong, and we ended first quarter 2015 with $3.4 billion in cash and short-term investments, with a fully available unsecured revolving credit line of $1 billion.”

During first quarter 2015, the Company returned $381 million to its Shareholders through the payment of $81 million in dividends and the repurchase of $300 million in common stock, or 5.1 million shares, pursuant to an accelerated share repurchase (ASR) program executed during the quarter. This ASR program was completed in early April, and the Company then received an additional 1.8 million shares, bringing the total shares repurchased under the first quarter 2015 ASR program to 6.9 million. During first quarter 2015, the Company also received the remaining 1.1 million shares pursuant to the fourth quarter 2014 $200 million ASR program, bringing the total shares repurchased under that ASR program to 4.9 million. The Company intends to complete the repurchase of the remaining $80 million under its existing $1.0 billion share repurchase authorization in May 2015.
 
Alaska Air Group, Inc., (Alaska Airlines and Horizon Air) (Seattle/Tacoma) today reported first quarter 2015 GAAP net income of $149 million, or $1.12 per diluted share, compared to $94 million, or $0.68 per diluted share in the first quarter of 2014. Excluding the impact of mark-to-market fuel hedge adjustments, the company reported record adjusted net income of $149 million, or $1.12 per diluted share, compared to adjusted net income of $89 million, or $0.64 per diluted share, in 2014.

“Our record first quarter results reflect lower fuel prices, but more importantly the tremendous loyalty of our customers in Seattle and across our system” said CEO Brad Tilden. “It is gratifying to see such strong growth and financial results given unprecedented competition. I want to thank our incredible employees who continue to rise to the challenge and deliver outstanding experiences to our customers.”

Financial Highlights:

Reported record first quarter net income, excluding special items, of $149 million – a 67% increase over the first quarter of 2014.

Reported adjusted earnings per share of $1.12 per diluted share, a 75% increase over the first quarter of 2014 and ahead of First Call analyst consensus estimate of $1.10 per share.

Earned net income for the first quarter under Generally Accepted Accounting Principles (GAAP) of $149 million or $1.12 per diluted share, compared to net income of $94 million, or $0.68 per diluted share in 2014.

Recorded $26 million of employee incentive pay in recognition of Air Group employees’ progress on meeting customer service, safety, operational and financial goals.

Increased fuel efficiency (as measured by seat-miles per gallon) by 2.5% compared to the first quarter of 2014, as part of our effort to be the airline leader in environmental stewardship.

Generated record adjusted pretax margin in the first quarter of 18.9% compared to 11.8% in 2014.

Generated 18.8% adjusted pretax margin for the trailing 12-month period ended March 31, 2015, compared to 13.6% for the same period in the prior year.

Achieved trailing 12-month after-tax return on invested capital of 20.1% compared to 14.8% in the 12-month period ended March 31, 2014.

Repurchased 1.6 million shares of common stock for $102 million in the first quarter of 2015, representing 1.2% of the total shares outstanding at the beginning of the year.

Paid a $0.20 per-share quarterly cash dividend on March 10, 2015, a 60% increase over the dividend declared in the first quarter of 2014.
 
Efato ha detto:
Bravi! Adesso fateci vedere come si fanno investimenti sulla base di questi profitti megagalattici.

P.s. Ma come mai c'e' un esodo di executives dalle major US verso il golfo? Specialmente da UA?
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qualche aereo lo hanno comperato pure loro. il servizio di bordo e' una storia diversa. forse vengono tutti li perche' li pagate bene o pensi solo per provare il servizio ?
 
L'eta' media delle flotte US3 risulta ad oggi essere :

AA: 12,7 anni
UA: 13,4 anni,
DL: 17,2 anni

...che non mi pare roba del paleozoico, con l'eccezione di DL che e' definibile come "quasi al limite"....ma se vuoi far polemica e basta allora finiamola qui.
 
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