US Airways Reports February Traffic Results
US Airways Group, Inc. (NYSE: LCC) today announced February and year-to-date 2010 traffic results. Mainline revenue passenger miles (RPMs) for the month were 3.9 billion, down 4.7 percent versus February 2009. Mainline capacity was 5.0 billion available seat miles (ASMs), down 5.3 percent versus February 2009. Passenger load factor for the month of February was 77.6 percent, up 0.4 points versus February 2009.
US Airways President Scott Kirby said, "Our February consolidated (mainline and Express) passenger revenue per available seat mile (PRASM) increased approximately eight percent versus the same period last year while total revenue per available seat mile increased approximately nine percent on a year-over-year basis. The revenue environment continues to show material signs of improvement with corporate booked revenue up more than 35 percent on a year-over-year basis."
With more departures than any carrier on the East Coast, US Airways’ February operations were severely impacted by the extreme weather in that region. Due to the length and severity of the storms, flight operations were suspended for a total of six days at three of the hardest hit major airports (three days at Washington National, two days at Philadelphia, and one day at New York- LaGuardia).
These weather-related cancellations drove a completion factor for February of 92.9 percent. The corresponding cancellation rate of 7.1 percent is the highest since the merger of US Airways and America West in 2005, exceeding the previous high by 3.3 points, or 87.9 percent. US Airways’ preliminary on-time performance as reported to the U.S. Department of Transportation (DOT) was 75.3 percent. The Company estimates weather related cancellations reduced February's revenue by approximately $30 million. In addition, due to its storm-related reduction in ASMs, the Company estimates a benefit to PRASM of approximately one-half of one percentage point.
