US Airways President Scott Kirby cautiously optimistic: It’s different this time

"The outlook for 2010 is characterised by cautious optimism", US Airways President Scott Kirby told analysts attending Tuesday’s Bank of America Merrill Lynch Global Transportation Conference. Colouring the prognosis is the continuation of capacity discipline across the board, both with legacies and LCCs, a return of the business traveler, a laser focus on CASM ex-fuel and lower oil prices, he said, echoing his counterparts who presented at the conference. He added, however, business travel was still 5% below 2008 levels. [1260 words]

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This report contains the following subheadings:

• "It is different this time"
• Laser focus on unit revenues and costs, not share
• Ancillary revenues
• Hubs and RASM
• Economy, fuel and slots

This report contains the following charts and tables:

• US Airways’ corporate travel revenue growth (% change year-on-year): Oct-2008 to May-2010
• US Airways’ booked yield growth (% change year-on-year): Oct-2008 to May-2010
• Stage adjusted mainline CASM (Excluding Fuel and Special Charges) growth (% change year-on-year): 1Q2010
• Capacity (ASMs) growth (% change year-on-year): 2009
• Capacity (ASMs) growth (% change year-on-year): 1Q2010
• Capital commitments as a percentage of revenue: 2010 and 2011
• Total RASM (stage length adjusted) growth (% change year-on-year): 1Q2010
• Pretax profit margin (%), (excluding special charges): 1Q2010