JetPiedmont

Source: US AirwaysUS Airways Group, Inc. Reports First Quarter 2008 Results
Thursday April 24, 8:00 am ET Highlights of US Airways Group, Inc.'s (the Company's) first quarter 2008 results: -- The Company reported a first quarter 2008 net loss of $236 million, or ($2.56) per share. Excluding net special items, the net loss was $239 million or ($2.60) per share. -- The first quarter loss was driven by higher oil prices. Had jet fuel prices remained constant versus the first quarter 2007, US Airways' fuel expenses including realized gains on fuel hedging instruments would have been $260 million lower. -- US Airways is actively taking steps to mitigate the impact of record high fuel costs by implementing programs to increase ancillary revenue, reducing capacity, modifying its fare structure and reducing its capital expenditures for the remainder of the year. -- The Company's operational improvement plan produced industry-leading on-time performance for the quarter. -- The Company had $2.8 billion in total cash and investments, of which $2.4 billion was unrestricted on March 31, 2008. In addition, the Company recently amended its credit card processing agreement. Under the terms of that amendment, among other improvements, the level of collateral required to be maintained by the Company has been reduced to the level of reserve at March 31, 2008 and may be subject to further reductions in certain circumstances.

UCLAbruins

WOW, it seems like every time I log in, an airline reports a #### million loss.

Price of oil is out of control, and summer (hurricane season) is almost here. if a couple of hurricanes hit the Gulf of Mexico, then we're going to be in a world of hurt.

texaspilot76

We already are in a world of hurt. Something has to be done with these oil companies. We need regulation of the oil industry.

rickair7777

Unfortunately, the oil companies have little say in the matter. They refine oil which they purchase largely overseas. Oil is a COMMODITY. Google that word, and read up on it.

The only way to really control the global price of oil would be to seize some of the production assets....

We could actually do this quite easily, since they tend to be in open geographic areas where our tactical mobility and hi-techs weapon systems excel, as opposed to urban environments.

We would have to take all of the fields in the middle east (easy pickings) plus Venezuela.

The rest of the world would not be happy, but no one would have the means to stop us or retake oil fields defended by mech, armor, and carrier strike groups.

You obviously have the political will to socialize the US oil companies, but do you have the peaches to do what it will REALLY take?

I think we should just work on developing and implementing alternative fuels and energy sources.

UCLAbruins

Our biggest suppliers are the Arab States, Canada and Mexico. The Arab States hate us, and they don't seem too eager to produce more inorder to help us out.

Canada and Mexico only have so much, and they need it for themselves, apart from that they seem to be running out.

How about reducing RJ flying and increasing mainline?? Why send 3 CRJs when you can send an A320 or 737??? more economical, almost same amount of seats.

Go ahead my regional friends, flame away.....

Jettubby

We need to take over the oil fields because that's why everyone says were're over there in the first place. I guess those that said Iraq is about oil just stepped on their d&*!. Dummmies.

cfii2007

So much for synergies created from the merger.........

MDT06

Everything that goes up must come down. It is just a matter of time. How long? That is a good question and very few know the answer......

Pilotpip

Google 1Q Oil company earnings and tell me what you think about this. Here's a US company that seems to be enjoying this. I bet there are others. http://ap.google.com/article/ALeqM5j...qFdfwD908FDDO1

Futureman

The additional profits are chump change compared to the huge increase in the price of oil as a commodity. You could take away every dime of the oil companies' profits, and it wouldn't make a huge difference in what we pay for gas.