Wednesday, US Airways Group, Inc. (LCC) announced a decline in traffic for the month of January. The month's capacity dropped, while passenger load factor increased.
The Tempe, Arizona - based company recorded a 6.2% decline in mainline revenue passenger miles or RPM to 4.352 billion from 4.639 billion a year ago. Traffic for the Domestic segment was down 8.1% at 3.478 billion compared to 3.782 billion in the previous year. Atlantic recorded a 2.6% decline in revenue passenger miles to 455.96 million from 468.172 million last year. Latin segment reported 7.7% increase in revenue to 418.191 million from 388.393 million a year ago.
Total mainline available seat miles or capacity for the month were down 6.9% at 5.743 billion, compared to 6.172 billion in the previous year. Capacity for Domestic segment declined 10.5% to 4.463 billion from 4.984 billion last year. Atlantic reported 1.3% increase in capacity to 712.145 million and Latin segment's capacity increased 17.2% to 568.427 million from 484.980 million in the previous year.
US Airways posted a 2 percentage points increase in mainline load factor to 77.9% on top of 75.9% reported last year. Load factor for Atlantic declined 2.6 percentage points to 64% and Latin segment reported a 6.5 percentage points decrease in load factor to 73.6%.
US Airways Express that comprises Piedmont Airlines and PSA Airlines recorded a domestic traffic of 146.432 million, down 6.7% from 156.873 million a year ago. Capacity dropped 4.1% at 256.035 million compared to 267.026 million last year. For the month, Express load factor was down 1.5 points to 57.2%.
Commenting on the performance, Scott Kirby, president of US Airways said, the results reflect the slowing economy.
LCC is currently trading at $5.85, up $0.07 or 1.21% on a volume of 2.850 million shares.
by RTT Staff Writer
For comments and feedback: email@example.com