Four major US airlines report very mixed results
All four of the major international airlines in the US have reported fourth-quarter and full-year results in the last two weeks, but with varying results. Delta Air Lines said that Superstorm Sandy cost the company around $100 million during the quarter. It also recorded a further $231 million in “special items”, resulting in an overall net income of just $7 million – a fall of 418%.
United saw its fourth quarter loss fall to $620 million, much of which was the result of costs attributed to the integration with Continental, which came to $408 million.
US Airways, which is pushing for a merger with rival American Airlines, recorded a fourth-quarter net profit, excluding special items, of $46 million. “We enter 2013 with great momentum and enthusiasm,” said Doug Parker, the airline’s chairman and chief executive.
American Airlines, which has been in Chapter 11 bankruptcy protection since November 2011, posted a net profit of $262 million, helped by $350 million from reorganisation and special items.