Originally Posted by
jj158
Tossed this together this afternoon. I've seen/hear people saying they wish they knew how much Air Wis's payroll was to compare it to the funding received under the CARES Act. I took comparable, regional airlines (just some of the first 10-K forms I could find) and created ratios that could then be used to estimate Air Wis's payroll expense. Then compared these to the funding received. If you have any suggestions that could improve it, let me know. Otherwise, I think it's in the ballpark considering the ratios for Mesa, Skywest, and Republic all gave similar numbers.
Edit: I forgot to include the source for the funding received. Its from
www.viewfromthewing.com
Here is the link to the latest 10K. It has been years since they posted one. I think they did it mainly to have ducks in a row to receive CARES 1.0.
https://www.sec.gov/Archives/edgar/d...926157d10k.htm
Your estimate isn't far off. Payroll expenses are around $62Mish per 6 months. (page 57 under "Operating Expenses")
CARES Act and the SBA loan amounts received are on page 37
As a side note discussed in another thread, AW has an odd corporate structure where AW operates under a holding company, Harbor Diversified, Inc., that originally had something to do with Harbor Therapeutics. If one reads through the structure on page 2, they state that over 99% of the operating revenue comes from the AW side. Any financial information that you are looking to find regarding AW will most likely be stated under Harbor Diversified, Inc.