EX-12.3 10 p72951exv12w3.htm EXHIBIT 12.3 exv12w3
 

Exhibit 12.3
US AIRWAYS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratio amounts)
                                                                     
    Successor Company (a)       Predecessor Company (a)  
    Six-Months Ended     Three Months Ended       Nine Months Ended     Year Ended     Nine Months Ended       Three Months Ended     Years Ended  
    June 30,     December 31,       September 30,     December 31,     December 31,       March 31,     December 31,  
    2006     2005       2005     2004     2003       2003     2002     2001  
 
                                                                    
Income (Loss) before income taxes and cumulative effect of change in accounting principle
   $ 248     $ (120 )     $ 278     $ (585 )   $ (154 )     $ 1,613     $ (1,914 )   $ (1,787 )
 
                                                    
Add:
                                                                    
Interest expense
     107       65         224       238       165         74       325       297  
Interest factor portion of rentals
     113       53         167       229       169         56       246       291  
 
                                                    
 
     220       118         391       467       334         130       571       588  
 
                                                    
Earnings (Losses) before income taxes and fixed charges
   $ 468     $ (2 )     $ 669     $ (118 )   $ 180       $ 1,743     $ (1,343 )   $ (1,199 )
 
                                                    
Computation of fixed charges:
                                                                    
Interest expense
   $ 107     $ 65       $ 224     $ 238     $ 165       $ 74     $ 325     $ 297  
Interest factor portion of rentals
     113       53         167       229       169         56       246       291  
Capitalized Interest
     1       1         1       5       —         —       3       10  
 
                                                    
 
                                                                    
Fixed Charges
   $ 221     $ 119       $ 392     $ 472     $ 334       $ 130     $ 574     $ 598  
 
                                                    
Ratio of earnings to fixed charges
     2.12       N/A         1.71       N/A       N/A         13.41       N/A       N/A  
 
                                                                    
Earnings insufficient to cover fixed charges
     N/A     $ 121         N/A     $ 590     $ 154         N/A     $ 1,917     $ 1,797  
 
(a)   In connection with emergence from the first bankruptcy in March 2003 and the second bankruptcy in September 2005, US Airways adopted fresh-start reporting in accordance with AICPA Statement of Position 90-7, “Financial Reporting by Entities in Reorganization Under the Bankruptcy Code.” As a result of the application of fresh-start reporting, the financial statements for the periods prior to March 31, 2003 are not comparable with the financial statements for the period April 1, 2003 to September 27, 2005, nor are any of such periods comparable to periods after September 27, 2005. References to “Successor Company” refer to US Airways following the application of fresh-start reporting upon emergence from the second bankruptcy, and references to “Predecessor Company” refer to US Airways prior to the application of fresh-start reporting upon emergence from the second bankruptcy.