Picture improves for America West despite Q4 loss PHOENIX (Reuters) =97 America West on Thursday reported a quarterly loss= that=20 fell by almost half from a year earlier on a 31% jump in revenue. Though=20 significantly better than Wall Street expectations, the results were latest= =20 heavy losses reported by a U.S. air carrier struggling with the lowest=20 demand in decades. The No. 8 U.S. carrier reported a fourth-quarter loss of= =20 $32.5 million, or 96 cents per share, down from $60.9 million, or $1.81 a=20 share, a year earlier. Operating revenue climbed 31% to $522 million in the= =20 fourth quarter, the company said. The results marked the third consecutive= =20 quarter of year-over-year improvement for the low-fare carrier. "America=20 West's financial results, although much improved, reflect the unprecedented= =20 and continued economic difficulties facing the airline industry," Chief=20 Executive W. Douglas Parker said. "It is clear that the economic rebound we= =20 had hoped to see by this time has not yet materialized." Another low-fare carrier, Dallas-based Southwest Airlines, is the only=20 major airline so far to avoid heavy losses for the fourth quarter and the=20 year. It is also the only major airline that has been consistently=20 profitable since the Sept. 11, 2001, attacks. Analysts had expected America West to post a loss of about $1.36 a share=20 for the fourth quarter, with loss forecasts ranging from $1.20 to $1.63 a=20 share. For 2002, America West said its loss amounted to $430 million, or=20 $12.75 per share, compared with a loss of $148 million, or $4.39 a share,=20 in 2001. The airline also said its cash equivalents and short-term=20 investments totaled $360 million at the end of 2002, more than double what= =20 it had at the end of 2001. U.S. airlines are struggling to slash costs and= =20 boost revenue amid a historic downturn in the industry that has bruised=20 demand for air travel. AMR Corp.'s American Airlines on Wednesday reported= =20 the biggest yearly loss in aviation history =97 3.5 billion for 2002. *************************************************** The owner of Roger's Trinbago Site/TnTisland.com Roj (Roger James) escape email mailto:ejames@escape.ca Trinbago site: www.tntisland.com Carib Brass Ctn site www.tntisland.com/caribbeanbrassconnection/ Steel Expressions www.mts.net/~ejames/se/ Site of the Week: www.pichemas.com TnT Webdirectory: http://search.co.tt *********************************************************