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America West Airlines Inc. earnings

Thursday, July 25, 1996 | 11:59 a.m.

COMMENTS: America West credited an expanded flight schedule for a 36 percent hike in second-quarter profits that were depressed by special charges lingering from its bankruptcy reorganization. The company's latest quarter included an $8 million non-cash charge left over from its bankruptcy. The airline announced last September it would increase capacity by 29 percent over the new two years. It also has launched service to Anchorage, Detroit and San Antonio and increased service to 12 other cities. It will add new service to Miami and Cleveland later this year and early in 1997. Several of the flights are late-night trips to Las Vegas as the Phoenix-based company exploits the city's 24-hour niche. For the first six months of 1996, America West reported record net income before extraordinary item of $43.2 million, up $17.2 million or 65.8 percent over the same period last year. In a conference call, Senior Vice President Doug Parker, chief financial officer of the company, said he doesn't expect rival Southwest Airlines' $25 ticket sales to have a major impact on third-quarter revenues. America West matched Southwest's fares. The companies complete between Las Vegas and Phoenix and Los Angeles. (NYSE: AWA)

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