US Airways reports $30m revenue hit from Sandy

Washington DC
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US Airways says it lost $30 million in revenue as a result of superstorm Sandy, which hit the US mid-Atlantic region in October.

The Tempe, Arizona-based carrier reported in a stock exchange filing that it had a $15 million negative impact on earnings during the month and an estimated additional $20 million hit to its November earnings.

Passenger revenue per available seat mile (PRASM) is expected to be flat in November compared with 2011, which is down from an expected 2% increase. US Airways reported that its PRASM increased by 3% year on year in October.

US Airways cancelled 4,200 flights as a result of Sandy and temporarily shut down its hub at Philadelphia and focus city at Washington National.

Wall Street analysts predict that the total cost of the storm for airlines will be in the range of $250 million.