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Fri, May 12, 2006

Stop The Bleeding -- NWA Loses $1.1 Billion In Q1

Bankruptcy Losses Mount... But Could This Be Worst Of It?

It isn't easy being Northwest Airlines... but the bankrupt carrier hopes it's seen the worst of it. Just two days after US Airways reported a quarterly profit for the first time in five years, Northwest had to report it lost a whopping $1.1 billion -- with a "B" -- between January 1 and April 1 this year.

It would seem the pace of Northwest's losses are really picking up -- as that's twice the quarterly loss suffered by the airline compared to the same time last year.

What's to blame? Skyrocketing fuel costs... as well as a recent reorganization the carrier says cost $975 million. But let's look at this again.

However, Northwest is quick to point out that number makes things seem worse than they actually are. If you take away the cost of the reorganization, Northwest actually only lost $129 million in the first quarter. Same time last year... the company lost about $450 million.

Hmmm. Maybe things aren't so bad after all.

FMI: www.nwa.com

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