US Airways 2005 Annual Report Download - page 69

Table of Contents
2005(a) 2004 2003(b)
Operating expenses:
Aircraft fuel and related taxes 1,486 991 771
Salaries and related costs 1,399 2,169 2,410
Express expenses 1,861 1,572 1,269
Aircraft rent 392 399 398
Aircraft maintenance 334 299 320
Other rent and landing fees 366 396 400
Selling expenses 324 360 377
Special charges, net 15 — 34
Depreciation and amortization 189 220 216
Government compensation — — (212)
Other 1,059 1,015 1,023
Total operating expenses 7,425 7,421 7,006
Operating loss (213) (348) (244)
Nonoperating income (expense)
Interest income 26 12 17
Interest expense, net (287) (236) (237)
Reorganization items, net 636 (32) 1,888
Other, net (4) 19 35
Total nonoperating income (expense) 371 (237) 1,703
Income (loss) before taxes 158 (585) 1,459
Income tax provision (benefit) (2) (7) 7
Net income (loss) $ 160 $ (578) $ 1,452
(a) The full year 2005 includes the combined results for the three months ended December 31, 2005 (Successor Company) and the nine months ended
September 30, 2005 (Predecessor Company).
(b) The full year 2003 includes the combined results for the nine months ended December 31, 2003 and the three months ended March 31, 2003.
US Airways emerged from the first bankruptcy effective March 31, 2003.
For the full year 2005, US Airways' operating revenues were $7.21 billion, operating loss was $213 million and the net income was $160 million.
Operating revenues in 2004 were $7.07 billion, operating loss was $348 million and the net loss was $578 million. Operating revenues for full year 2003 were
$6.76 billion, operating loss was $244 million and net income was $1.45 billion. US Airways' results from operations and the net income (loss) in 2005, 2004
and 2003 were significantly impacted by the first and second bankruptcy proceedings and the 2005 operating results also reflect the impact of the merger with
America West Holdings. 63