US Airways 2009 Annual Report Download - page 52

Table of Contents
For the year ended December 31, 2008, US Airways reported a loss, which increased its NOLs, and it did not record a tax provision.
For the year ended December 31, 2007, US Airways utilized NOLs to reduce its income tax obligation. Utilization of these NOLs
resulted in a corresponding decrease in the valuation allowance. As this valuation allowance was established through the recognition of
tax expense, the decrease in valuation allowance offsets the tax provision dollar for dollar. US Airways recognized $7 million of non-cash
state income tax expense for the year ended December 31, 2007, as US Airways utilized NOLs that were generated prior to the merger.
As these were acquired NOLs, the accounting rules in place at that time required that the decrease in the valuation allowance associated
with these NOLs reduce goodwill instead of the provision for income taxes.
The table below sets forth US Airways' selected mainline and Express operating data:
Percent Percent
Year Ended December 31, Change Change
2009 2008 2007 2009-2008 2008-2007
Mainline
Revenue passenger miles (millions) (a) 57,889 60,570 61,262 (4.4) (1.1)
Available seat miles (millions) (b) 70,725 74,151 75,842 (4.6) (2.2)
Passenger load factor (percent) (c) 81.9 81.7 80.8 0.2 pts 0.9 pts
Yield (cents) (d) 11.66 13.51 13.28 (13.7) 1.7
Passenger revenue per available seat mile (cents) (e) 9.55 11.04 10.73 (13.5) 2.9
Aircraft at end of period 349 354 356 (1.4) (0.6)
Fuel consumption (gallons in millions) 1,069 1,142 1,195 (6.4) (4.4)
Average aircraft fuel price including related taxes (dollars per gallon) 1.74 3.17 2.20 (45.0) 43.9
Express (f)
Revenue passenger miles (millions) (a) 10,570 10,855 10,332 (2.6) 5.1
Available seat miles (millions) (b) 14,367 14,953 14,159 (3.9) 5.6
Passenger load factor (percent) (c) 73.6 72.6 73.0 1.0 pts (0.4) pts
Yield (cents) (d) 23.68 26.52 26.12 (10.7) 1.6
Passenger revenue per available seat mile (cents) (e) 17.42 19.26 19.06 (9.5) 1.0
Aircraft at end of period 283 296 286 (4.4) 3.5
Fuel consumption (gallons in millions) 338 352 343 (3.8) 2.7
Average aircraft fuel price including related taxes (dollars per gallon) 1.80 3.23 2.23 (44.3) 44.8
Total Mainline and Express
Revenue passenger miles (millions) (a) 68,459 71,425 71,594 (4.2) (0.2)
Available seat miles (millions) (b) 85,092 89,104 90,001 (4.5) (1.0)
Passenger load factor (percent) (c) 80.5 80.2 79.5 0.3 pts 0.7 pts
Yield (cents) (d) 13.52 15.49 15.13 (12.7) 2.4
Passenger revenue per available seat mile (cents) (e) 10.88 12.42 12.04 (12.4) 3.1
Total revenue per available seat mile (cents) (g) 12.47 13.74 13.13 (9.3) 4.7
Aircraft at end of period 632 650 642 (2.8) 1.2
Fuel consumption (gallons in millions) 1,407 1,494 1,537 (5.8) (2.8)
Average aircraft fuel price including related taxes (dollars per gallon) 1.76 3.18 2.21 (44.8) 44.1
(a) Revenue passenger mile ("RPM") — A basic measure of sales volume. One RPM represents one passenger flown one mile.
(b) Available seat mile ("ASM") — A basic measure of production. One ASM represents one seat flown one mile.
(c) Passenger load factor — The percentage of available seats that are filled with revenue passengers.
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