USA legacy carriers, 4th qtr and full year earnings


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su e giu' sull'atlantico...
Iniziamo da DL, sempre in ottima salute e con conferme importanti di solidità' e garanzia per gli investitori che si vedono stornare un totale di $1,35 bilion in cash!

DL reports fourth-quarter, full-year results
Delta Air Lines (DL) said its pre-tax fourth-quarter profit, excluding special items, amounted to $1.0 billion, $474 million more than in the same period a year ago. It said its pre-tax margin for the quarter was 10.5 percent, excluding special items.
Its full-year pre-tax profit, including special items, was $4.5 billion, a $1.9 billion increase over 2013. Including special items, DL said its December quarter pre-tax loss was $1.1 billion, operating margin was -8.6 percent and net loss was $712 million.
DL said its total operating revenue rose 6 percent to $9.6 billion for the quarter. The company said its unit revenue for the quarter rose 0.8 percent, while it kept its unit cost growth - excluding fuel - below 2 percent for the sixth quarter in a row through its cost-control initiatives.
The airline also said it has returned $1.35 billion in cash to shareholders in 2014 through quarterly dividends and share repurchases.

Vedremo le altre nei prossimi giorni... :cool:
 
UNITED press news, ottima performance con un vistoso +89% YOY, certo ancora lontano dal mega margine avuto da DL; non dimentichiamo tuttavia il merge CO-UA avvenuto in una fase storica di crisi senza precedenti, quantomeno se riferita alle mega-fusioni tra vettori USA.
Faccio un sunto:

We (UA) reported full-year 2014 net income of $1.97 billion, an increase of 89 percent year-over-year, or $5.06 per diluted share, excluding $834 million of special items. Including special items, we reported full-year net income of $1.13 billion, or $2.93 per diluted share.
We reported fourth-quarter 2014 net income of $461 million, an increase of 86 percent year-over-year, or $1.20 per diluted share, excluding $433 million of special items. Including special items, we reported fourth-quarter 2014 net income of $28 million, or $0.07 per diluted share.
In 2014, United returned approximately $320 million to shareholders as part of our previously announced $1 billion share buyback program.
Our consolidated passenger revenue per available seat mile (PRASM) increased 1.6 percent for full-year 2014 compared to full-year 2013.
 
Southwest today reported its fourth quarter and annual 2014 results:

Record fourth quarter net income, excluding special items1, of $404 million, or $.59 per diluted share, compared with fourth quarter 2013 net income, excluding special items, of $236 million, or $.33 per diluted share.
Record annual net income, excluding special items, of $1.4 billion, or $2.01 per diluted share, compared with 2013 net income, excluding special items, of $805 million, or $1.12 per diluted share.
 
[h=1]United Airlines continues to post solid financial gains, numerous revenue headwinds ahead in 1Q2015[/h]

United_Logo-200x.jpg

United Airlines continues a trajectory of improved fundamentals as changes undertaken in 2014 to shore up revenue that include re-banking and seasonal adjustments reach a full scale in 2015.

The airline sustained profitability for 4Q2014 and CY2014, and plans to keep its capacity growth at rates less than GDP despite the sharp decline in oil prices that has continued into 2015. Similar to rival Delta, Unitedplans to use any extra cash generated from lower energy costs to accelerate balance sheet delivery and increase shareholder returns.

After enjoying a solid performance in its domestic entity throughout much of 2014, United observed some softness in the US domestic market near the end of 4Q2014 that is lingering into the beginning of 2015. The slowing US demand and several other factors are driving projected flat unit revenue growth for United in 1Q2015, but capacity discipline along with a favourable cost performance should help blunt some of the anticipated revenue pressure.


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[h=2]United continues to post profits and drives down top-line expenses[/h]United recorded profits of USD1.9 billion for CY2014 excluding special items, and posted a USD1 billion net income including those items, an increase of approximately USD561 million year-on-year. The airline’s profits in 4Q2014 excluding special items were USD461 million and USD28 million including special charges compared with profits of USD140 million the year prior.

The airline’s top-line revenues remained essentially flat in 4Q2014 at USD9.3 billion, but overall expenses decreased 4.5%, driving an increase in operating income from USD235 million to USD625 million. United’s revenues increased 1.6% year-on-year for CY2014 to USD39 billion and operating expenses fell 1.4% driving operating income to USD2.4 billion compared with USD1.2 billion the year prior.
United Airlines revenue performance: 4Q2014 vs 4Q2013 and CY2014 vs CY2013
revenue.png

Source: United Continental Holdings
United Airlines expense performance: 4Q2014 vs 4Q2013 and CY2014 vs CY2013
expense.png

Source: United Continental Holdings
[h=2]United faces pressure in the Pacific while growing Latin capacity by double digits[/h]On a unit basis, United’s revenue per available seat mile inched up just 0.4% year-on-year in 4Q2014, which was in line with previous guidance issued by the airline of a 1% rise to a 1% decline. Previously, United has explained that it had a 1.5ppt revenue advantage in 4Q2013 stemming from the reconciliation of some interline ticket sales.
United unit revenue, yield and capacity growth by geographical entity: 4Q2014 vs 4Q2013
geography.png

Source: United Continental Holdings
During a recent discussion with analysts and investors, United did not discuss its performance by geographical entity in much detail, but warned at the end of 3Q2014 that it was bracing for a 20% increase in competitive capacity on Pacific routes in 4Q2014, and currency pressure from the devaluation of the JPY would create a 1.5% headwind in United’s consolidated passenger unit revenues in 4Q2014.

United’s own capacity in the Pacific increased 4.7% year-on-year in 4Q2014, as a 3.8% drop in yields helped drag down passenger unit revenues by 5.9%.

United also at the end of 3Q2014 stated its capacity on Latin American routes increased in the double digits. The airline explained it was opportunistically re-deploying marginal capacity from elsewhere in its network, and acknowledged the capacity push would create unit revenue pressure in 4Q2014, but would be profit maximising for its overall network. United’s capacity to Latin America jumped 16.4% year-on-year during 4Q2014 while unit revenues declined 4.4% and yield fell 3.8%.
[h=2]Seasonal shaping shows promise in United's trans-Atlantic markets[/h]Supplying some details about United’s 4Q2014 and CY2014 revenue performance, airline chief revenue officer Jim Compton explained the company’s “seasonal shaping” programme launched in 2014 that entails managing capacity on a more seasonal basis – reducing capacity during shoulder periods and increasing supply during high demand months – helped United post a solid performance in the trans-Atlantic in 4Q2014.
The region was United’s best performing entity during the quarter, as yield increased 6.1% and unit revenues grew 6.9% on a 2.2% capacity reduction.
[h=2]United sees decent corporate growth, but could see some fall off in energy sector travel[/h]Other revenue enhancing changes United launched during 2014 included the rebanking of its hubs in Denver and Houston during 4Q2014. Mr Compton remarked that United increased both the number of connecting passengers in those markets and increased yields.

United’s corporate revenues increased 4% year-on-year during 4Q2014 driven by gains in the healthcare and technology sectors.

Mr Compton stated that United is “monitoring the impact of lower oil prices on our energy related corporate traffic”, and during 4Q2014 “we noticed a small impact and we are working closely with these corporate partners as they begin planning travel for 2015”.

The oil industry is a significant driver of the economy in Houston, which is United’s top base measured by seat deployment for the week of 19-Jan-2015 to 25-Jan-2015.
United Airlines global top 10 hubs/bases/stations by seats: 19-Jan-2015 to 25-Jan-2015
uatopbases.png

Source: CAPA -Centre for Aviation and OAG
[h=2]United’s operation of larger regional jets helps drive growth in aircraft gauge[/h]Similar to all US global network airlines, United is working to shrink its 50-seat jet operations. During 2014 it removed 39 50-seat jets from its regional fleet and added 33 Embraer 175 with 76 seats. While the longer stage lengths of those aircraft do create some unit revenue pressure, United estimates that ancillary revenue per passenger is 15% higher on the larger gauge regional aircraft due to a configuration that includes 12 first class seats and 16 seats with extra legroom. During 2015 United estimates adding 49 Embraer 175s as 71 50-seat aircraft exit operations.

The increased gauge of its regional fleet and United’s overall frequency consolidation that started in 2014 resulted in a 4% increase in gauge in 4Q2014 and 6% drop in departures. It estimates in 2015 its system departures will fall 4% as aircraft gauge increases by 6%. United is also adding slimline seats on roughly 300 aircraft, with 85% of the project targeted for completion in 2015. The higher density configurations created by the slimline seats is also contributing to the increased gauge.
United Airlines fleet projections year-on-year: CY2015
fleet3.png

Source: United Continental Holdings
[h=2]United cites several headwinds pressuring 1Q2015 passenger unit revenues[/h]
United projects its average stage length will increase 1.5% in 1Q2015, driven largely by a Pacific network restructuring​
foreign exchange challenges will negatively effect 1Q2015 passenger unit revenues by 1ppt
United is predicting a range of consolidated passenger unit revenue growth in 1Q2015 of down 1% to a rise of 1%. The airline concludes several factors are affecting its revenue performance for the first three months of 2015.

A shift in revenue redemption tickets in United’s frequent flyer programme is impacting 1Q2015 PRASM by roughly 1ppt. The airline is now recognising passenger revenue in the period that a passenger redeems travel. Mr Compton noted it does not change United’s full year revenueoutlook, but will provide a headwind of approximately USD75 million during the quarter. During 3Q2015 and 4Q2015, United expects the redemption changes to result in revenue benefits of USD50 million and USD25 million.

United projects its average stage length will increase 1.5% in 1Q2015, driven largely by a Pacific network restructuring that focuses on more direct flights by United to Asia rather than making connections through Japan. During the last year United has cut service from Tokyo Narita toHong Kong and Bangkok. It is working with its Star Alliance joint venture partner ANA to offer connections that allow United to redeploy aircraft on other long-haul flights from the US, reflected in its introduction of long-haul flights from San Francisco to Taipei and Chengdu and between Los Angeles and Melbourne. The airline believes all the network changes are margin accretive, but will negatively impact PRASM by 0.5ppt in 1Q2015.

Like its rival Delta, United is also expecting headwinds from the strengthening of the USD. It has opted to hedge 60% of its exposure to the EUR in 2015 at a rate of USD1.22, and estimates that foreign exchange challenges will negatively effect 1Q2015 passenger unit revenues by 1ppt.

See related report: Delta Air Lines finishes a solid 2014 ready to face currency headwinds and macro pricing pressure
[h=2]United is noticing signs of a softening in domestic demand[/h]
Delta Air Lines recently concluded that as fuel prices fall there can be expectations of broad based pricing pressure​
But unlike Delta, United at the end of 4Q2014 noticed some signs of softness in the US domestic market. “We expect this to continue in the first quarter of 2015 with domestic unit revenues expected to be flat to up 2%,” Mr Compton said. Some of the domestic revenue headwinds United expects in 1Q2015 should be offset by a 1.5ppt gain “as we don’t anticipate the same bubble of weather related disruption to our operation that we experienced in the first quarter of 2014”. Mr Compton stated.

United expects its domestic capacity in 1Q2015 to be flat to down 1%, and Delta has also outlined plans to cut 1.5ppt of its domestic schedule beginning in Mar-2015.

Offering some detail regarding the US domestic environment in late 2014, Mr Compton explained that combining Nov-2014 and Dec-2014 and factoring out the “holiday movements and things like that”, during those two months growth rates for United and the industry “were less than the previous months during the year and we want to highlight that as a base”.

United executives did not specifically comment on pricing pressure spurred by lower fuel prices, but Spirit Airlines in late 2014 cited some pressure on close in bookings from industry pricing actions and Delta Air Lines recently concluded that as fuel prices fall there can be expectations of broad based pricing pressure.
[h=2]United aims to use any fuel windfall to accelerate share buybacks[/h]United does have the benefit of a favourable cost performance accompanying its tepid unit revenue projections for 1Q2015. It expects unit costsexcluding fuel, profit sharing and third party business expense to range between a 0.5% drop and a 0.5% increase. It is forecasting unit cost growth of flat to a 1% rise for CY2015.

As fuel prices began to fall significantly in 2H2014, United’s top line fuel expense decreased for United by 14.7% and 5.4% in 4Q2014 and CY2014 respectively. But the airline did record a USD237 million hedge loss in 4Q2014 that includes USD80 million in 2015 positions closed out in the quarter. The airline expects to post USD190 million in hedge losses in 1Q2015. CFO John Rainey explained that United’s CY2015 hedge position allows the airline to participate in 84% of future declines in the price of oil.

Putting the current fuel price environment into context, Mr Rainey stated that if United’s cash flows turn out to be better than expected, the airline would accelerate share buybacks and de-lever at a pace to reach its capital structure targets earlier than originally planned. Delta expressed similar sentiments about any potential financial gains from lower fuel prices.
[h=2]United retains a solid position, but domestic macro trends for 2015 are tough to predict[/h]Although United is encountering some choppiness in its unit revenue growth as 2015 gets under way, its efforts to keep unit costs excluding fuel in check, and falling energy prices, should help ease some of the sting from all factors affecting 1Q2015 unit revenues.

United also has a strengthening balance sheet to weather a short period of unit revenue headwinds.

What remains to be seen is how long the softness United is experiencing in the domestic market will last or if it will intensify. The domestic business was a strong performer for all the US global airlines during 2014, and with weak economic conditions elsewhere, those airlines may need to lean on the domestic space in 2015 to sustain revenue strength. Here, fortunately, the signs of an ecnomic revival are strengthening daily.


CAPA
 
Anche Alaska Airlines è andata più che bene:

[TABLE="width: 700"]
[TR]
[TD="colspan: 16"]The following table reconciles the Company's adjusted net income and earnings per diluted share (EPS) during the full year and fourth quarters of 2014 and 2013 to amounts as reported in accordance with GAAP:[/TD]
[/TR]
[TR]
[TD="colspan: 16"] [/TD]
[/TR]
[TR]
[TD="width: 344, bgcolor: #84b4d4"]
[/TD]
[TD="bgcolor: #84b4d4, colspan: 15"]
Three Months Ended December 31,​
[/TD]
[/TR]
[TR]
[TD="width: 344, bgcolor: #84b4d4"]
[/TD]
[TD="bgcolor: #84b4d4, colspan: 7"]
2014​
[/TD]
[TD="width: 5, bgcolor: #84b4d4"]
[/TD]
[TD="bgcolor: #84b4d4, colspan: 7"]
2013​
[/TD]
[/TR]
[TR]
[TD="width: 344, bgcolor: #84b4d4"](in millions, except per share amounts)
[/TD]
[TD="bgcolor: #84b4d4, colspan: 3"]
Dollars​
[/TD]
[TD="width: 5, bgcolor: #84b4d4"]
[/TD]
[TD="bgcolor: #84b4d4, colspan: 3"]
Diluted EPS​
[/TD]
[TD="width: 5, bgcolor: #84b4d4"]
[/TD]
[TD="bgcolor: #84b4d4, colspan: 3"]
Dollars​
[/TD]
[TD="width: 5, bgcolor: #84b4d4"]
[/TD]
[TD="bgcolor: #84b4d4, colspan: 3"]
Diluted EPS​
[/TD]
[/TR]
[TR]
[TD="width: 344, bgcolor: #cceeff"]Reported GAAP net income
[/TD]
[TD="width: 7, bgcolor: #cceeff"]$
[/TD]
[TD="width: 68, bgcolor: #cceeff"]
148​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 7, bgcolor: #cceeff"]$
[/TD]
[TD="width: 68, bgcolor: #cceeff"]
1.11​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 7, bgcolor: #cceeff"]$
[/TD]
[TD="width: 68, bgcolor: #cceeff"]
78​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 7, bgcolor: #cceeff"]$
[/TD]
[TD="width: 68, bgcolor: #cceeff"]
0.56​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[/TR]
[TR]
[TD="width: 344"]Mark-to-market fuel hedge adjustments, net of tax
[/TD]
[TD="width: 75, colspan: 2"]
(4​
[/TD]
[TD="width: 5"])
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 75, colspan: 2"]
(0.03​
[/TD]
[TD="width: 5"])
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 75, colspan: 2"]
(1​
[/TD]
[TD="width: 5"])
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 75, colspan: 2"]
(0.01​
[/TD]
[TD="width: 5"])
[/TD]
[/TR]
[TR]
[TD="width: 344, bgcolor: #cceeff"]Special items, net of tax
[/TD]
[TD="width: 75, bgcolor: #cceeff, colspan: 2"]
(19​
[/TD]
[TD="width: 5, bgcolor: #cceeff"])
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 75, bgcolor: #cceeff, colspan: 2"]
(0.14​
[/TD]
[TD="width: 5, bgcolor: #cceeff"])
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 75, bgcolor: #cceeff, colspan: 2"]
—​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 75, bgcolor: #cceeff, colspan: 2"]
—​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[/TR]
[TR]
[TD="width: 344"]Non-GAAP adjusted income and per share amounts
[/TD]
[TD="width: 7"]$
[/TD]
[TD="width: 68"]
125​
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 7"]$
[/TD]
[TD="width: 68"]
0.94​
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 7"]$
[/TD]
[TD="width: 68"]
77​
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 7"]$
[/TD]
[TD="width: 68"]
0.55​
[/TD]
[TD="width: 5"]
[/TD]
[/TR]
[TR]
[TD="colspan: 16"] [/TD]
[/TR]
[TR]
[TD="width: 344, bgcolor: #84b4d4"]
[/TD]
[TD="bgcolor: #84b4d4, colspan: 15"]
Twelve Months Ended December 31,​
[/TD]
[/TR]
[TR]
[TD="width: 344, bgcolor: #84b4d4"]
[/TD]
[TD="bgcolor: #84b4d4, colspan: 7"]
2014​
[/TD]
[TD="width: 5, bgcolor: #84b4d4"]
[/TD]
[TD="bgcolor: #84b4d4, colspan: 7"]
2013​
[/TD]
[/TR]
[TR]
[TD="width: 344, bgcolor: #84b4d4"](in millions, except per share amounts)
[/TD]
[TD="bgcolor: #84b4d4, colspan: 3"]
Dollars​
[/TD]
[TD="width: 5, bgcolor: #84b4d4"]
[/TD]
[TD="bgcolor: #84b4d4, colspan: 3"]
Diluted EPS​
[/TD]
[TD="width: 5, bgcolor: #84b4d4"]
[/TD]
[TD="bgcolor: #84b4d4, colspan: 3"]
Dollars​
[/TD]
[TD="width: 5, bgcolor: #84b4d4"]
[/TD]
[TD="bgcolor: #84b4d4, colspan: 3"]
Diluted EPS​
[/TD]
[/TR]
[TR]
[TD="width: 344, bgcolor: #cceeff"]Reported GAAP net income
[/TD]
[TD="width: 7, bgcolor: #cceeff"]$
[/TD]
[TD="width: 68, bgcolor: #cceeff"]
605​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 7, bgcolor: #cceeff"]$
[/TD]
[TD="width: 68, bgcolor: #cceeff"]
4.42​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 7, bgcolor: #cceeff"]$
[/TD]
[TD="width: 68, bgcolor: #cceeff"]
508​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 7, bgcolor: #cceeff"]$
[/TD]
[TD="width: 68, bgcolor: #cceeff"]
3.58​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[/TR]
[TR]
[TD="width: 344"]Mark-to-market fuel hedge adjustments, net of tax
[/TD]
[TD="width: 75, colspan: 2"]
(15​
[/TD]
[TD="width: 5"])
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 75, colspan: 2"]
(0.11​
[/TD]
[TD="width: 5"])
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 75, colspan: 2"]
(5​
[/TD]
[TD="width: 5"])
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 75, colspan: 2"]
(0.03​
[/TD]
[TD="width: 5"])
[/TD]
[/TR]
[TR]
[TD="width: 344, bgcolor: #cceeff"]Special items, net of tax
[/TD]
[TD="width: 75, bgcolor: #cceeff, colspan: 2"]
(19​
[/TD]
[TD="width: 5, bgcolor: #cceeff"])
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 75, bgcolor: #cceeff, colspan: 2"]
(0.13​
[/TD]
[TD="width: 5, bgcolor: #cceeff"])
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 75, bgcolor: #cceeff, colspan: 2"]
—​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 75, bgcolor: #cceeff, colspan: 2"]
—​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[/TR]
[TR]
[TD="width: 344"]Special mileage plan revenue, net of tax
[/TD]
[TD="width: 7"]$
[/TD]
[TD="width: 68"]
—​
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 7"]$
[/TD]
[TD="width: 68"]
—​
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 7"]$
[/TD]
[TD="width: 68"]
(120​
[/TD]
[TD="width: 5"])
[/TD]
[TD="width: 5"]
[/TD]
[TD="width: 7"]$
[/TD]
[TD="width: 68"]
(0.85​
[/TD]
[TD="width: 5"])
[/TD]
[/TR]
[TR]
[TD="width: 344, bgcolor: #cceeff"]Non-GAAP adjusted income and per share amounts
[/TD]
[TD="width: 7, bgcolor: #cceeff"]$
[/TD]
[TD="width: 68, bgcolor: #cceeff"]
571​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 7, bgcolor: #cceeff"]$
[/TD]
[TD="width: 68, bgcolor: #cceeff"]
4.18​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 7, bgcolor: #cceeff"]$
[/TD]
[TD="width: 68, bgcolor: #cceeff"]
383​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[TD="width: 7, bgcolor: #cceeff"]$
[/TD]
[TD="width: 68, bgcolor: #cceeff"]
2.70​
[/TD]
[TD="width: 5, bgcolor: #cceeff"]
[/TD]
[/TR]
[/TABLE]

http://splash.alaskasworld.com/Newsroom/ASNews/ASstories/AS_20150122_045758.asp

DaV
 
East End Ave ha detto:
yes!

ATLANTA (AP) -- Delta Air Lines Inc. reported a fourth-quarter loss because falling oil prices led it to write down the value of its fuel-hedging contracts...

http://finance.yahoo.com/news/delta-posts-4q-loss-writing-134535752.html
Clicca per espandere...

Certo che se compri il carburante in anticipo cash,blocchi il prezzo ,sei un figo che ti proteggi dall'aumento, poi se compri il carburante in anticipo e blocchi il prezzo, il prezzo cala e tu sei un fesso perché lo hai pagato di più .
Ma che accidenti deve fare uno, avere la palla di cristallo?
 
E anche American e' in gran salute; cos'e' che non abbiamo davvero compreso in Europa?!?!?!?!? :D

AA reports fourth-quarter, full-year results
American Airlines (AA) said its pre-tax fourth-quarter 2014 profit, excluding special items, amounted to $1.1 billion, up 153 percent versus fourth-quarter 2013. Its pre-tax margin for the quarter was 10.6 percent, excluding special items. Its full-year pre-tax profit, excluding special items, was $4.2 billion, up 90 percent over 2013. AA also expects its consolidated fuel expense to improve by $5 billion in 2015, said AA Chief Financial Officer Derek Kerr during the company's earnings call.
The airline also said it completed its previously announced $1 billion share repurchase program more than a year before its expiration and announced the authorization of an additional $2 billion share repurchase program to be completed by the end of 2016.
 
AZ209 ha detto:
Good, ma after tax e including special items quanto ha postato per curiosita'?
Clicca per espandere...

"The Company believes it is more meaningful to compare year-over-year results for American Airlines and US Airways excluding special charges and on a combined basis, which is a non-GAAP formulation that combines the results for AMR Corporation and US Airways Group"
 
Hawaiian Airlines 2014 net profit up 33% to $69 million

Hawaiian Airlines parent Hawaiian Holdings reported net income of $68.9 million for 2014, up 32.9% from $51.9 million in net income for 2013. According to the carrier, it was the best full-year performance since 2010 when the company posted a $110.3 million net profit.

Full-year revenue for 2014 grew 7.4% year-over-year to $2.31 billion as expenses increased 2.4% to $2.07 billion, resulting in an operating profit of $245.1 million, up 83.3% from $133.7 million in 2013.

Hawaiian’s scheduled traffic for 2014 grew 1.9% year-over-year to 13.9 billion RPMS; capacity increased 1.8% to 17.1 billion ASMs; passenger load factor for the year came to 81.5%, unchanged from 2013. Yield grew 3.4% to 14.70 cents.

Hawaiian president and CEO Mark Dunkerley said, “2014 finished on a high note with the company posting much better results than a year ago. 2015 will be another year of improvements as long as demand, fuel and industry capacity in our marketplaces remain as forecast.”

Hawaiian’s 2014 fourth-quarter net income was $11.1 million, falling 35% from $17.1 million in the year-ago December quarter. Fourth-quarter operating revenue was up 8.1% year-over-year to $574.8 million as expenses eased 0.1% year-over-year to $497.5 million, resulting in operating income for the quarter of $77.3 million, more than doubling the $33.8 million the carrier reported in the fourth quarter of 2013.

(Mark Nensel - ATWOnline News)
 
Allegiant 2014 net profit down 6.1% to $86.7 million

Las Vegas-based Allegiant Travel Co., parent of Allegiant Air, posted 2014 net income of $86.7 million, down 6.1% from a net profit of $92.3 million in 2013.

The ultra-low cost carrier specializing in flights from smaller US cities to US vacation destinations has now been profitable for every quarter for 12 consecutive years. But a $43.3 million charge taken in the 2014 fourth quarter for the write down on the value of Allegiant’s fleet of six Boeing 757s almost broke the company’s streak of 48 quarters in a row in the black: the December quarter net profit was just $4.8 million, down 72.6%. Allegiant blamed the full-year and fourth-quarter profit declines on the 757 write down, noting that net profit for the quarter and year would have improved absent the one-time charge.

Allegiant’s 2014 revenue was $1.14 billion, up 14.1% year-over-year, while expenses rose 16.4% to $979.7 million, producing operating income of $157.4 million, up 1.7% from an operating profit of $154.7 million in 2013. The carrier’s 2014 traffic increased 9.8% to 7.83 billion RPMs on a 9.8% rise in capacity to 8.95 billion ASMs, producing a load factor of 87.5%, the same as 2013.

Allegiant chairman and CEO Maurice Gallagher told analysts he was pleased with the 2014 results, but acknowledged that the company needs to improve in some basic areas. “Frankly, we don’t answer our calls as fast as we’d like,” he said, noting that carriers such as Southwest Airlines make it a priority to rapidly respond to consumer issues. In terms of Allegiant’s place in the US airline industry landscape, “we’re still in short pants and trying to become the adult,” Gallagher said. “We’ll get a lot of these things cleaned up around the edges.”

Allegiant also appears to have put on hold plans to start international flying. Former president and COO Andrew Levy had said the carrier was eyeing flights to Mexico as early as this year, but Gallagher last week sounded less enthusiastic about flying beyond the US. “The low hanging fruit is certainly domestic [expansion],” he said. “It’s just easier operationally … As long as we can keep growing in this market, we don’t feel like we’re missing anything south of the border or in the Caribbean.”

(Aaron Karp - ATWOnline News)
 
Virgin America posts second consecutive full-year net profit

Feb 18, 2015

Virgin America earned net income of $60.1 million in 2014, a significant increase over a net profit of $10.1 million in 2013, marking the airline’s second straight year of profitability after five years of losses following its 2007 launch.
“We achieved record profitability and significantly strengthened our balance sheet by going public,” president and CEO David Cush said. “Both our existing and new investors have shown confidence in our low-cost, high-amenity business model.” The San Francisco-based airline launched an initial public offering (IPO) in November 2014.
Virgin America’s 2014 revenue increased 4.6% year-over-year to $1.49 billion, outpacing a 3.7% rise in expenses to $1.39 billion, producing an operating profit of $96.4 million, up 19.2% over operating income of $80.9 million in 2013. The carrier’s annual aircraft fuel expenses decreased 1.6% to $499.1 million (fourth-quarter fuel expenses were down 4.8% year-over-year). The carrier’s 2014 operating margin was 6.5%, up 0.8 point over an operating margin of 5.7% in 2013.
Virgin America’s 2014 traffic rose 2.6% year-over-year to 10.07 billion RPMs on flat capacity of 12.24 billion ASMs, producing a load factor of 82.3%, up 2.1 points. Yield improved 0.4% to 13.19 cents.
The airline expects to grow capacity 2% to 3% in the 2015 first quarter compared to the 2014 March quarter.
Atwonline
 
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