MILWAUKEE, Jan. 26 /PRNewswire-FirstCall/ -- Midwest Air Group, Inc. today reported corrections to its fourth quarter financial results release, which was issued earlier today.
The release incorrectly stated the following:
-- For the three months ended December 31, 2005, Into-plane Fuel Cost Per
Gallon for Midwest Airlines should be $2.12. For the same period, Into-
plane Fuel Cost Per Gallon for Midwest Air Group should be $2.13.
-- For the twelve months ended December 31, 2004, Revenue per Scheduled
Service ASM for Midwest Air Group should be $0.0945.
Other calculations reported in the release are not affected by the corrections.
A revised chart follows.
Midwest Airlines features jet service throughout the United States, including Milwaukee's most daily nonstop flights and best schedule to major destinations. Skyway Airlines, Inc. - its wholly owned subsidiary - operates as Midwest Connect, which offers connections to Midwest Airlines as well as point-to-point service between select markets on regional jet and turboprop aircraft. Together, the airlines offer service to 47 cities, including San Diego - the airline's newest destination. More information is available at http://www.midwestairlines.com/ .
This document contains forward-looking statements that may state the company's or management's intentions, hopes, beliefs, expectations or predictions for the future. Words such as "expect," "anticipate," "believe," "estimate," "goal," "objective" or similar words are intended to identify forward-looking statements. It is important to note that the company's actual results could differ materially from projected results due to the risk factors described in the "Risk Factors" section of Part 1 of the company's "Annual Report on Form 10-K" for the year ended December 31, 2004 and the company's most recent Form 10-Q.
Editor's note: Table follows.
MIDWEST AIR GROUP, INC.
OPERATING STATISTICS
Three Months Ended Twelve Months Ended
December 31, December 31,
2005 2004 2005 2004
Midwest Airlines Operations
Origin & Destination
Passengers 778,121 555,358 3,009,082 2,226,679
Revenue Passenger Miles
(000s) 802,119 561,104 3,121,785 2,296,252
Scheduled Service
Available Seat Miles
(000s) 1,185,368 844,449 4,358,678 3,554,656
Total Available Seat Miles
(000s) 1,203,466 870,823 4,417,682 3,685,372
Load Factor (%) 67.7% 66.4% 71.6% 64.6%
Revenue Yield $0.1279 $0.1228 $0.1193 $0.1216
Revenue per Scheduled
Service ASM (1) $0.0917 $0.0861 $0.0903 $0.0824
Total Cost per Total ASM $0.1089 $0.1168 $0.1121 $0.1037
Total Cost per Total ASM
(ex-fuel cost) (2) $0.0696 $0.0874 $0.0773 $0.0789
Average Passenger Trip
Length (miles) 1,031 1,010 1,038 1,031
Number of Flights 12,653 9,141 46,492 37,391
Into-plane Fuel Cost per
Gallon $2.12 $1.59 $1.85 $1.34
Full-time Equivalent
Employees at End of
Period 1,905 2,057 1,905 2,057
Aircraft in Service at End
of Period 34 30 34 30
Midwest Connect Operations
Origin & Destination
Passengers 200,273 178,204 820,487 680,233
Revenue Passenger Miles
(000s) 61,317 54,764 242,210 203,895
Scheduled Service
Available Seat Miles
(000s) 95,823 93,258 381,983 362,505
Total Available Seat Miles
(000s) 95,823 93,530 382,251 362,785
Load Factor (%) 64.0% 58.7% 63.4% 56.2%
Revenue Yield $0.3705 $0.3537 $0.3606 $0.3680
Revenue per Scheduled
Service ASM (1) $0.2433 $0.2132 $0.2346 $0.2125
Total Cost per Total ASM $0.3060 $0.2396 $0.2698 $0.2298
Total Cost per Total ASM
(ex-fuel cost) (2) $0.2339 $0.1835 $0.2065 $0.1827
Average Passenger Trip
Length (miles) 306 307 295 300
Number of Flights 14,510 14,522 59,550 56,599
Into-plane Fuel Cost per
Gallon $2.19 $1.67 $1.91 $1.40
Full-time Equivalent
Employees at End of
Period 1,001 774 1,001 774
Aircraft in Service at End
of Period 21 22 21 22
Midwest Air Group
Revenue Passenger Miles
(000s) 863,436 615,868 3,363,995 2,500,147
Scheduled Service
Available Seat Miles
(000s) 1,281,191 937,706 4,740,662 3,917,161
Total Available Seat Miles
(000s) 1,299,289 964,353 4,799,932 4,048,157
Load Factor (%) 67.4% 65.7% 71.0% 63.8%
Revenue Yield $0.1451 $0.1433 $0.1366 $0.1417
Revenue per Scheduled
Service ASM (1) $0.1030 $0.0988 $0.1019 $0.0945
Total Cost per Total ASM $0.1206 $0.1274 $0.1225 $0.1138
Total Cost per Total ASM
(ex-fuel cost) (2) $0.0789 $0.0954 $0.0854 $0.0870
Number of Flights 27,163 23,663 106,042 93,990
Into-plane Fuel Cost per
Gallon $2.13 $1.60 $1.86 $1.35
Full-time Equivalent
Employees at End of
Period 2,906 2,831 2,906 2,831
Aircraft in Service at End
of Period 55 52 55 52
(1) Passenger, cargo and other transport-related revenue divided by
scheduled service ASMs.
(2) Non-GAAP measurement.
Note: All statistics exclude charter operations except the following:
total available seat miles ("ASMs"), cost per total ASM, into-plane fuel
cost, number of employees and aircraft in service. Aircraft acquired but
not yet placed into service are excluded from the aircraft in service
statistics.
Numbers in this table may not be recalculated due to rounding.
First Call Analyst:
FCMN Contact: natalie.fuerst@midwestairlines.com
