US Airways 2010 Annual Report Download - page 44
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Table of Contents
Operating Expenses:
Percent
Increase
2010 2009 (Decrease)
(In millions)
Operating expenses:
Aircraft fuel and related taxes $ 2,403 $ 1,863 29.0
Loss (gain) on fuel hedging instruments, net:
Realized — 382 nm
Unrealized — (375) nm
Salaries and related costs 2,244 2,165 3.6
Aircraft rent 670 695 (3.7)
Aircraft maintenance 661 700 (5.5)
Other rent and landing fees 549 560 (1.9)
Selling expenses 421 382 10.3
Special items, net 5 55 (91.6)
Depreciation and amortization 248 242 2.7
Other 1,197 1,152 3.9
Total mainline operating expenses 8,398 7,821 7.4
Express expenses:
Fuel 769 609 26.2
Other 1,960 1,910 2.7
Total Express expenses 2,729 2,519 8.4
Total operating expenses $ 11,127 $ 10,340 7.6
Total operating expenses were $11.13 billion in 2010, an increase of $787 million, or 7.6%, compared to 2009. Mainline operating
expenses were $8.4 billion in 2010, an increase of $577 million, or 7.4%, from 2009, while mainline capacity increased 1.2%.
The 2010 period included $5 million of net special charges, consisting of a $6 million non-cash charge related to the decline in market
value of certain spare parts, $5 million in aircraft costs related to previously announced capacity reductions and other net special charges
of $10 million, which included a settlement and corporate transaction costs. These costs were offset by a $16 million refund of ASIF
previously paid to the TSA during the years 2005 to 2009. This compares to net special charges of $55 million in 2009, consisting of
$22 million in aircraft costs as a result of capacity reductions, $16 million in non-cash impairment charges due to the decline in fair value
of certain indefinite lived intangible assets associated with international routes, $11 million in severance and other charges and $6 million
in costs incurred related to the 2009 liquidity improvement program.
Our mainline CASM excluding special items, fuel and profit sharing, decreased 0.04 cents, or 0.4%, from 8.34 cents in 2009 to 8.30
cents in 2010. The decrease in 2010 was primarily due to our strong operational performance and continued cost diligence, which enabled
us to increase mainline capacity by 1.2%, while keeping costs relatively flat.
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