Midwest reports May performance and expects lower earnings for second quarter.
Midwest Air Group Inc (Amex: MEH) has reported its May performance data for Midwest Airlines and Midwest Connect.
The company said that the performance report now includes operating statistics for the 50-seat regional jet fleet operated by SkyWest Airlines, affecting year-over-year comparisons for Midwest Air Group and Midwest Connect. According to Midwest, the new service was launched on 1 April and has allowed for the opening of new markets and the changing of some flights previously operated by Midwest Airlines to Midwest Connect.
Midwest Air Group reported that, at the group level, there was a 21.6% increase in traffic and an 18.8% increase in capacity, resulting in a 1.8 points increase in load factor. The revenue per total available seat mile decreased 6.4%.
Midwest is reportedly experiencing softness in yields and, as a result, the company has estimated that earnings for the second quarter will fall short of analysts' expectations. Earnings may also fall slightly below the results posted in second quarter 2006.
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|Publication:||Airline Industry Information|
|Article Type:||Financial report|
|Date:||Jun 12, 2007|
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