Give Peace a Chance:
They (whose they?) say now target is $8.00/share over next 12 months. They (who?) have to say that. I'll say as high as $12/share. Am learning patience...this is good for me.
In the meanwhile, ATWT is hammering away at new highs daily.
Briboy
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Higher fares, capacity controls lift AMR, US Air
5:33p ET July 21, 2010 (MarketWatch)
CHICAGO (MarketWatch) -- Higher fares and capacity controls overcame rising fuel costs and helped a pair of airlines -- AMR Corp. and US Airways -- post markedly improved second-quarter results Wednesday.
AMR , the parent of American Airlines, said its second-quarter loss narrowed to $10.7 million, or 3 cents a share, from a loss of $390 million, or $1.39 a share, in the year-ago period. Revenue climbed 16% to $5.7 billion.
The average estimate of analysts polled by FactSet Research had been for the company to lose 3 cents a share on revenue of $5.6 billion.
Revenue growth was across the board, encompassing its flagship brand, regional affiliates and cargo. Consolidated passenger revenue per available seat mile (unit revenue) grew 16.7%, while mainline unit revenue at American grew 16.8%.
"Tight capacity control that drove higher load factors and improving economic conditions drove higher unit revenue," the company said, while "passenger yield, which represents the average fares paid, increased at American by 14%."
Shares of AMR fell 23 cents, or 3%, to close at $6.62, giving back opening gains.
Meanwhile, US Airways said that its second-quarter profit rose to $279 million, or $1.41 a share, from $58 million, or 42 cents a share, in the year-earlier period. Excluding items, the company would have earned $1.34 a share, compared to a year-ago loss of 77 cents.
The profit was its second-highest quarterly mark since it took over America West in 2005, the company noted.
Revenue rose to $3.17 billion from $2.66 billion.
Wall Street analysts had been looking for earnings of $1.15 a share on revenue of $3.14 billion.
Results were driven by higher passenger yields due to an improving economy and greater demand for business travel, the company said. Total revenue per available seat mile was 14.37 cents, up 18.9%.
Looking ahead, the company said it expects to report a profit for the third quarter and full year 2010.
"Over the past three years, US Airways has taken the steps required to return to profitability, including reducing capacity, maintaining cost discipline, increasing ancillary revenues and establishing industry-leading operational reliability," said Doug Parker, chief executive, in the earnings report. "Those steps, combined with an improving economic environment, have led to these results."
Shares of US Airways rose 29 cents, or 3%, to close at $9.21.
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