=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SF Gate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2002/07/19/s= tate1201EDT0073.DTL ---------------------------------------------------------------------- Friday, July 19, 2002 (AP) America West reports second quarter loss of $8.5 million JACQUES BILLEAUD, AP Business Writer (07-19) 09:01 PDT PHOENIX (AP) -- America West Holdings Corp. on Friday reported a net loss of $8.5 million for the second quarter of 2002, compared to a loss of $42.5 million during the same period last year. America West Holdings, the parent company of America West Airlines and T= he Leisure Company, a tour packager, lost 25 cents a share for the quarter, compared to $1.26 per share during the same quarter in 2001. Analysts surveyed by Thomson Financial/First Call estimated the Tempe-based company would lose 58 cents per share. America West said it produced a nominal net profit in June, typically one of its strongest months. "While America West's second-quarter net loss reflects the continued economic challenges facing the airline industry, we are encouraged to be the only major airline to report a year-over-year improvement in earnings," said Douglas Parker, America West's chairman and chief executive. He said the improvement was driven by a new fare structure, improved operations and cost reductions during recent restructuring. America West shares rose 5 cents to $2.42 in early trading Friday on the New York Stock Exchange. America West officials say the airline keeps improving on getting passengers to their destinations on time, but is still dogged by its past as a carrier that delayed flights, lost luggage and left customers waiting. The company says it now ranks among the industry's best in on-time arrivals and it will change the perception that it's unreliable. Like much of the industry, the company faces financial hurdles. America West posted losses in seven straight quarters. It got approval f= or a loan guarantee as part of the government's industry bailout. Pushed to the brink of bankruptcy shortly after the Sept. 11 terrorist attacks, America West secured a $429 million loan guarantee from the federal government. After the attacks, the airline eliminated jobs and trimmed its flight schedule by 20 percent. More than 1,500 employees of the airline have returned to work, including all the pilots, flight attendants, customer service representatives and reservation agents who were laid off. The airline also said its flight schedule has returned to what it was before the attacks. The company decided in March to target more business travelers by cutting the Saturday night stay and advance purchase requirements. Rivals responded by slashing some coast-to-coast fares, but America West said it will stick to its plan. America West is the country's eighth-largest airline, serving destinatio= ns in the United States, Canada and Mexico. It has hubs in Phoenix, Columbus, Ohio, and Las Vegas. On the Net: America West Airlines: www.americawest.com =20 ---------------------------------------------------------------------- Copyright 2002 AP