Northwest Airlines Reports Second Quarter 2004 Results PR Newswire - Wednesday, July 21, 2004
EAGAN, Minn., Jul 21, 2004 /PRNewswire-FirstCall via COMTEX/ -- Northwest Airlines Corporation (Nasdaq: NWAC), the parent of Northwest Airlines, today reported a second quarter net loss of $182 million or $2.11 per common share. This compares to the 2003 second quarter when the company reported a net profit of $227 million or $2.45 per diluted common share. Northwest's 2004 second quarter included a $104 million charge to write-down previously parked 747-200 passenger aircraft and related inventory. Excluding these unusual items, Northwest reported a second quarter 2004 net loss of $78 million or $0.90 per common share. "For the second consecutive quarter, our financial results were adversely affected by high aircraft fuel prices which are expected to remain at near record levels for the foreseeable future," said Richard H. Anderson, chief executive officer. "We continued to reduce non-labor costs throughout the organization and we maintained our revenue premium to the industry. However, our fundamental challenge remains constant: we must reduce our labor costs to address the new revenue environment in which we find ourselves." Dean Lindberg wrote: "It looks like NWA has finally accomplished the ultimate dream of any business regulated by environmental rules: Total domination of the governmental agency that oversees it." Vicky comments: Rather than a conspiracy to dominate regulators, it might be an attempt to avoid bankruptcy. Vicky Heller North Oaks and Cedar-Riverside REMINDERS: 1. Think a member has violated the rules? Email the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
