UBS Warburg: US Airline Industry Set to Lose US$4.4 Billion This Year
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UBS Warburg: US Airline Industry Set to Lose US$4.4 Billion This Year
From ATWonline:
US industry heads for worst-ever loss
Dateline: Friday September 14, 2001
The US airline industry, which had been headed for an anticipated loss of $2.3 billion this year, now is likely to lose $4.4 billion, the largest single-year loss ever, UBS Warburg analyst Samuel S. Buttrick forecast yesterday.
He estimated the incremental impact on airlines of the horrific events of Sept. 11 at $2.1 billion. The industry also is expected to be unprofitable next year, with a loss of $400 million against previous expectations of a $700 million profit.
Commenting on the impact of the two-day shutdown, Buttrick estimated that each day
the industry is inoperative "results in incremental net losses to the US Majors of about $120 million." Using a different yardstick, ATWOnline estimates based on data from BACK Aviation Solutions that the industry was generating in the area of $330 million in total revenue per day at the time of the shutdown. According to BACK, passenger
airlines were scheduled to operate 34,630 domestic and international flights on Sept. 11.
Dateline: Friday September 14, 2001
The US airline industry, which had been headed for an anticipated loss of $2.3 billion this year, now is likely to lose $4.4 billion, the largest single-year loss ever, UBS Warburg analyst Samuel S. Buttrick forecast yesterday.
He estimated the incremental impact on airlines of the horrific events of Sept. 11 at $2.1 billion. The industry also is expected to be unprofitable next year, with a loss of $400 million against previous expectations of a $700 million profit.
Commenting on the impact of the two-day shutdown, Buttrick estimated that each day
the industry is inoperative "results in incremental net losses to the US Majors of about $120 million." Using a different yardstick, ATWOnline estimates based on data from BACK Aviation Solutions that the industry was generating in the area of $330 million in total revenue per day at the time of the shutdown. According to BACK, passenger
airlines were scheduled to operate 34,630 domestic and international flights on Sept. 11.
