EX-12.1 2 p69470a1exv12w1.htm EXHIBIT 12.1 exv12w1
 

EXHIBIT 12.1

AMERICA WEST HOLDINGS CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(IN THOUSANDS EXCEPT RATIO OF EARNINGS TO FIXED CHARGES)
                                                 
    Six Months Ended   Year Ended December 31,
    June 30, 2004
   2003
   2002
   2001
   2000
   1999
Computation of earnings:
                                                
Income (loss) before income taxes and extraordinary item
   $ 6,870     $ 57,534     $ (214,757 )   $ (324,387 )   $ 24,743     $ 206,150  
Add:
                                                
Interest expense including amortization of debt expense
     39,174       79,665       72,445       27,456       16,193       23,387  
Interest portion of rent expense
     69,633       135,592       136,455       152,392       142,252       121,722  
 
    
 		      
 		      
 		      
 		      
 		      
 		  
Income (loss), as adjusted
   $ 115,677     $ 272,791     $ (5,857 )   $ (144,539 )   $ 183,188     $ 351,259  
 
    
 		      
 		      
 		      
 		      
 		      
 		  
Computation of fixed charges:
                                                
Interest expense including amortization of debt expense
   $ 39,174     $ 79,665     $ 72,445     $ 27,456     $ 16,193     $ 23,387  
Interest portion of rent expense
     69,633       135,592       136,455       152,392       142,252       121,722  
Capitalized interest
     920       1,562       2,958       12,509       9,026       6,100  
 
    
 		      
 		      
 		      
 		      
 		      
 		  
Fixed charges
   $ 109,727     $ 216,819     $ 211,858     $ 192,357     $ 167,471     $ 151,209  
 
    
 		      
 		      
 		      
 		      
 		      
 		  
Ratio of earnings to fixed charges(1)(2)
     1.05       1.26       —       —       1.09       2.32  

(1)   For the purpose of computing the ratio of earnings to fixed charges, “earnings” consist of income (loss) before income taxes and extraordinary item plus fixed charges less capitalized interest. “Fixed charges” consist of interest expense including amortization of debt expense, one-third of rent expense, which is deemed to be representative of an interest factor, and capitalized interest.

(2)   Earnings for the year ended December 31, 2002 and 2001 were inadequate to cover fixed charges by $217.7 million and $336.9 million, respectively.