Sandy takes $35M bite out of US Airways

Sandy takes $35M bite out of US Airways

Sandy takes $35M bite out of US Airways

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by ELY PORTILLO / Charlotte Observer

WCNC.com

Posted on November 27, 2012 at 9:33 PM

Hurricane Sandy cost US Airways an estimated $35 million in profits for October and November, the company disclosed in a securities filing.

The airline said it saw bookings fall be 13 percent in the days before and after Sandy, Oct. 24 through Nov. 3, compared to the same days a year ago.

For October, US Airways said it lost $30 million in revenue and $15 million worth of profits. For November, the carrier said it expects a 2 percent hit to passenger revenue per available seat mile, an important financial indicator for airlines, and a $20 million hit to profits.

In the fourth quarter last year, US Airways’ revenue totaled $3.2 billion, and the company eked out an $18 million profit.

Tempe, Ariz.-based US Airways is Charlotte Douglas International Airport’s primary airline, operating more than 600 daily flights from the city. During Sandy and in the days following, US Airways parked dozens of planes in Charlotte out of the storm’s path as it canceled thousands of flights.

 

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