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America West sees 1Q up
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March 31, 1999: 11:03 a.m. ET
Airline expects record profit despite threat of flight attendants' strike
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NEW YORK (CNNfn) - America West Airlines said Wednesday first-quarter profits will top Wall Street forecasts as passenger traffic rose due to a pilots' sickout at a competitor, more than offsetting declines from worries about a strike at America West.
The nation's No. 9 airline said it expects record earnings equal to 60 cents a diluted share for the quarter, well above forecasts for 53 cents a share, according to First Call, which tracks analysts' estimates. Year-earlier profit also equaled 53 cents a share.
The airline said it gained traffic due to a sickout by pilots at American Airlines, the nation's second-biggest airline, which is a unit of AMR Corp (AMR). America West, based in Tempe, Ariz., announced a tentative five-year contract with flight attendants March 20, averting a strike that threatened to disrupt the spring-break travel season.
The company also cited the strong economy, stable airfares and more efficient operations. It said first-quarter results will be released April 20.
America West stock rose ¾ to 18-3/4 in composite New York Stock Exchange trading.
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America West
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