EX-12.2 3 p69470a1exv12w2.htm EXHIBIT 12.2 exv12w2
 

EXHIBIT 12.2

AMERICA WEST AIRLINES, INC.

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
  $ 8,503     $ 61,400     $ (212,021 )   $ (320,314 )   $ 30,718     $ 212,329  
Add:
                                               
Interest expense including amortization of debt expense
    42,595       86,744       79,479       34,900       23,874       30,486  
Interest portion of rent expense
    69,634       135,592       136,455       152,422       142,391       121,928  
 
   
 
     
 
     
 
     
 
     
 
     
 
 
Income (loss), as adjusted
  $ 120,732     $ 283,736     $ 3,913     $ (132,992 )   $ 196,983     $ 364,743  
 
   
 
     
 
     
 
     
 
     
 
     
 
 
Computation of fixed charges:
                                               
Interest expense including amortization of debt expense
  $ 42,595     $ 86,744     $ 79,479     $ 34,900     $ 23,874     $ 30,486  
Interest portion of rent expense
    69,634       135,592       136,455       152,422       142,391       121,928  
Capitalized interest
    920       1,562       2,958       12,509       9,026       6,100  
 
   
 
     
 
     
 
     
 
     
 
     
 
 
Fixed charges
  $ 113,149     $ 223,898     $ 218,892     $ 199,831     $ 175,291     $ 158,514  
 
   
 
     
 
     
 
     
 
     
 
     
 
 
Ratio of earnings to fixed charges(1)(2)
    1.07       1.27                   1.12       2.30  

(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 years ended December 31, 2002 and 2001 were inadequate to cover fixed charges by $215.0 and $332.8 million, respectively.