Frontier Airlines 2006 Annual Report Download - page 81

REPUBLIC AIRWAYS HOLDINGS INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 2006, 2005, AND 2004
(In thousands, except per share amounts)
2006 2005 2004
OPERATING REVENUES:
Passenger $ 1,118,226 $ 883,906 $ 637,389
Charter and ground handling 8,932 11,611 8,682
Other 15,920 9,504 253
Total operating revenues 1,143,078 905,021 646,324
OPERATING EXPENSES:
Wages and benefits 175,483 143,826 112,305
Aircraft fuel 325,500 278,923 174,208
Passenger fees and commissions — — 2,939
Landing fees 41,993 30,376 24,201
Aircraft and engine rent 94,773 77,725 74,514
Maintenance and repair 105,198 76,481 70,290
Insurance and taxes 17,652 16,117 13,186
Depreciation and amortization 92,228 64,877 34,412
Impairment loss and accrued aircraft return costs (credits) (2,050) (4,218) 1,441
Other 79,708 62,195 47,483
Total operating expenses 930,485 746,302 554,979
OPERATING INCOME 212,593 158,719 91,345
OTHER INCOME (EXPENSE):
Interest expense:
Non-related party (91,128) (63,503) (27,812)
Related party — (43) (652)
Interest and other income 9,944 5,002 518
Total other income (expense) (81,184) (58,544) (27,946)
INCOME BEFORE INCOME TAXES 131,409 100,175 63,399
INCOME TAX EXPENSE 51,899 39,521 24,547
Net income $ 79,510 $ 60,654 $ 38,852
Basic net income per common share $ 1.89 $ 1.69 $ 1.66
Diluted net income per common share $ 1.82 $ 1.66 $ 1.62
See accompanying notes to consolidated financial statements.
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Source: REPUBLIC AIRWAYS HOLDINGS INC, 10-K, March 15, 2007 Powered by Morningstar® Document Research℠