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Stock Market & Financial Investment News

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November 26, 2012
19:19 EDTLCCUS Airways says Sandy affected Oct earnings by $15M, Nov earnings by $20M
US Airways Group disclosed in a regulatory filing updated financial and operating information as follows: The company estimates a $30M negative impact to revenue and a $15M negative impact on earnings from Hurricane Sandy for the month of October. Additionally, the company saw total bookings, on a year-over-year basis, decline by 13% between October 24 and November 3. Bookings made 0 to 13 days prior to departure declined by 21% over the same period of time. The company estimates that this negatively affected November PRASM by approximately 2% and November earnings by approximately $20M. As a result, the company now expects November PRASM to be flat on a year-over-year basis. Bookings have since returned to normal levels.
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