ARLINGTON, Va., June 5, 2002—US Airways reported today that revenue passenger miles for May 2002 declined 17.1 percent compared to May 2001, while available seat miles for the month were down 20.6 percent compared to the same period last year. The passenger load factor for May 2002 was 73.6 percent, an increase of 3.1 percentage points compared to May 2001.
For the first five months of 2002, revenue passenger miles decreased 17.0 percent compared to the same period in 2001, while available seat miles were down 19.5 percent year-over-year. The passenger load factor for the period was 70.8 percent, an increase of 2.1 percentage points compared to 2001.
The three wholly-owned subsidiaries of US Airways Group, Inc.—Allegheny Airlines, Inc., Piedmont Airlines, Inc., and PSA, Inc.—reported that revenue passenger miles for May 2002 increased by 6.6 percent compared to May 2001, with available seat miles up 12.9 percent. The passenger load factor for the month was 56.2 percent, a decrease of 3.3 percentage points compared to May 2001.
For the first five months of 2002, revenue passenger miles for the three US Airways Express subsidiaries were up 3.8 percent compared to the same period last year, while available seat miles increased by 9.8 percent. The passenger load factor for the period was 51.7 percent, a decrease of 3.0 percentage points from 2001.
“While we saw load-factor improvement again this month, we continue to experience a decline in unit revenues directly resulting from the falloff of business travel, general weakening in leisure demand, and ongoing industry fare sale initiatives,” said B. Ben Baldanza, US Airways senior vice president of marketing and planning.
Mainline passenger unit revenues are expected to decline between 9 percent and 10 percent for May 2002, compared to May last year.
Certain of the information discussed above or enclosed herewith should be considered “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. A number of risks and uncertainties exist which could cause the actual results to differ materially from the results projected in such forward-looking statements. Additional information concerning the factors which could cause actual results to differ materially from the forward-looking statements are contained in US Airways` periodic filings with the Securities and Exchange Commission. US Airways assumes no obligation to update such estimates to reflect actual results, changes in assumptions or changes in other factors affecting such estimates.