Midwest Air Group Reports December and Full-Year Performance
MILWAUKEE, Jan. 11 /PRNewswire-FirstCall/ — Midwest Air Group, Inc. today reported December and full-year performance data for Midwest Airlines and Midwest Connect. For the year, the company reported record traffic — up more than 21% at the group level. Traffic outpaced a 13% increase in capacity, resulting in a 5.2 percentage point increase in load factor compared with 2005. Revenue per total available seat mile increased 12% over the same time period.
Midwest Air Group, Inc. — Performance Report December 2006 2005 %Change Midwest Air Group Scheduled Service Revenue Passenger Miles (000s) 335,746 282,987 18.6 Scheduled Service Available Seat Miles (000s) 471,448 438,176 7.6 Total Available Seat Miles (000s) 475,815 445,893 6.7 Load Factor (%) 71.2% 64.6% 6.6pts. Revenue Yield (estimate) $0.1385 $0.1410 (1.8) Passenger Revenue per Schd. Svc. ASM (estimate) $0.0986 $0.0911 8.2 Total Revenue per Total ASM (estimate) $0.1146 $0.1039 10.4 Number of Flights 8,986 9,102 (1.3) Into-plane Fuel Cost per Gallon (estimate) $2.14 $1.84 16.8 Midwest Airlines Operations Origin & Destination Passengers 297,776 252,894 17.7 Scheduled Service Revenue Passenger Miles (000s) 316,088 263,252 20.1 Scheduled Service Available Seat Miles (000s) 441,392 406,271 8.6 Total Available Seat Miles (000s) 445,759 413,988 7.7 Load Factor (%) 71.6% 64.8% 6.8pts. Revenue Yield (estimate) $0.1260 $0.1265 (0.4) Passenger Revenue per Schd. Svc. ASM (estimate) $0.0902 $0.0820 10.1 Total Revenue per Total ASM (estimate) $0.1080 $0.0966 11.8 Average Passenger Trip Length (miles) 1,061 1,041 2.0 Number of Flights 4,711 4,286 9.9 Into-plane Fuel Cost per Gallon (estimate) $2.14 $1.82 17.5 Midwest Connect Operations Origin & Destination Passengers 62,964 64,680 (2.7) Scheduled Service Revenue Passenger Miles (000s) 19,658 19,734 (0.4) Scheduled Service Available Seat Miles (000s) 30,057 31,905 (5.8) Total Available Seat Miles (000s) 30,057 31,905 (5.8) Load Factor (%) 65.4% 61.9% 3.5pts. Revenue Yield (estimate) $0.3383 $0.3349 1.0 Passenger Revenue per Schd. Svc. ASM (estimate) $0.2213 $0.2071 6.8 Total Revenue per Total ASM (estimate) $0.2550 $0.2391 6.7 Average Passenger Trip Length (miles) 312 305 2.3 Number of Flights 4,275 4,816 (11.2) Into-plane Fuel Cost per Gallon (estimate) $2.15 $1.92 12.2 Twelve Months Ended December 31, 2006 2005 %Change Midwest Air Group Scheduled Service Revenue Passenger Miles (000s) 4,086,394 3,363,995 21.5 Scheduled Service Available Seat Miles (000s) 5,362,671 4,740,662 13.1 Total Available Seat Miles (000s) 5,421,119 4,799,932 12.9 Load Factor (%) 76.2% 71.0% 5.2pts. Revenue Yield (estimate) $0.1439 $0.1366 5.3 Passenger Revenue per Schd. Svc. ASM (estimate) $0.1096 $0.0970 13.1 Total Revenue per Total ASM (estimate) $0.1225 $0.1090 12.4 Number of Flights 110,120 106,042 3.8 Into-plane Fuel Cost per Gallon (estimate) $2.17 $1.86 16.6 Midwest Airlines Operations Origin & Destination Passengers 3,621,048 3,009,082 20.3 Scheduled Service Revenue Passenger Miles (000s) 3,827,111 3,121,785 22.6 Scheduled Service Available Seat Miles (000s) 4,982,631 4,358,678 14.3 Total Available Seat Miles (000s) 5,040,712 4,417,682 14.1 Load Factor (%) 76.8% 71.6% 5.2pts. Revenue Yield (estimate) $0.1284 $0.1193 7.7 Passenger Revenue per Schd. Svc. ASM (estimate) $0.0986 $0.0854 15.5 Total Revenue per Total ASM (estimate) $0.1134 $0.0994 14.2 Average Passenger Trip Length (miles) 1,057 1,037 1.9 Number of Flights 54,213 46,492 16.6 Into-plane Fuel Cost per Gallon (estimate) $2.16 $1.85 16.8 Midwest Connect Operations Origin & Destination Passengers 819,946 820,487 (0.1) Scheduled Service Revenue Passenger Miles (000s) 259,283 242,210 7.0 Scheduled Service Available Seat Miles (000s) 380,040 381,983 (0.5) Total Available Seat Miles (000s) 380,407 382,251 (0.5) Load Factor (%) 68.2% 63.4% 4.8pts. Revenue Yield (estimate) $0.3719 $0.3606 3.1 Passenger Revenue per Schd. Svc. ASM (estimate) $0.2537 $0.2286 11.0 Total Revenue per Total ASM (estimate) $0.2851 $0.2471 15.4 Average Passenger Trip Length (miles) 316 295 7.1 Number of Flights 55,907 59,550 (6.1) Into-plane Fuel Cost per Gallon (estimate) $2.21 $1.91 15.5
Note: All statistics exclude charter operations except total available seat miles, total revenue per total available seat miles and into-plane fuel cost. Numbers may not recalculate due to rounding.
Midwest Airlines features jet service throughout the United States, including Milwaukee’s most daily nonstop flights and best schedule to major destinations. Catering primarily to business travelers and discerning leisure travelers, the airline earned its reputation as “The best care in the air” by providing passengers with impeccable service and onboard amenities at competitive fares. Skyway Airlines, Inc. – Midwest’s wholly owned subsidiary – operates as Midwest Connect and offers connections to Midwest Airlines as well as point-to-point service between select markets on regional jet and turboprop aircraft. Together, the airlines offer service to 48 cities. More information is available at http://www.midwestairlines.com/.
This document contains forward-looking statements about the results expected under the company’s strategic plan and that otherwise may state the company’s or management’s intentions, hopes, beliefs, expectations or predictions for the future. Words such as “projecting,”"expect,”"anticipate,”"believe,”"estimate,”"goal,”"objective” or similar words are intended to identify forward-looking statements. It is important to note that the company’s actual results could differ materially from projected results due to the risk factors described in Item 1A. Risk Factors in the company’s “Annual Report on Form 10-K” for the year ended December 31, 2005.
Midwest Air Group, Inc.
CONTACT: Media Inquiries: Carol Skornicka, office: +1-414-570-3980,cell: +1-414-303-6516, Carol.Skornicka@midwestairlines.com, orAnalyst/Investor Inquiries: Dennis O’Reilly, office: +1-414-570-3954,Dennis.O’Reilly@midwestairlines.com
Web site: http://www.midwestairlines.com/