US Airways operating losses more than double in January, cash position tightens

By Ted A. Knutson

Washington, Feb. 28 - U.S. Airways Inc.'s operating loses more than doubled in January to $134.4 million from December's $58.7 million, according to a company report filed with the U.S. Bankruptcy Court for the Eastern District of Virginia.

Revenue for January was $478.4 million against December holiday traffic of $526.2 million.

Personnel costs were up by 7% for January, and fuel costs rose 15%.

Cash and cash equivalents sunk nearly $200 million in January to $543 million from $738 million a month earlier.

Net income of $720 million for the month was skewed by an $878 million reorganization gain.

The Arlington, Va.-based carrier filed for bankruptcy on Sept. 12. Its Chapter 11 case number is 04-13819.

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