Q1 Loss
03-13-2023, 05:45 PM
#2
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Joined APC: May 2009
Position: 787
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This is straight out of the 8k
the Company has determined that it is appropriate to accrue expense in the first quarter 2023 related to a potential new collective bargaining agreement with employees represented by the Air Line Pilots Association. This accrual represents a shift in the timing of the associated expense from the second quarter 2023 into the first quarter 2023.
Probably has to do with retro, even though we know it won’t actually get paid out in Q1.
03-13-2023, 06:15 PM
#3
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Joined APC: Feb 2020
Posts: 476
already being discussed:
This is straight out of the 8k
the Company has determined that it is appropriate to accrue expense in the first quarter 2023 related to a potential new collective bargaining agreement with employees represented by the Air Line Pilots Association. This accrual represents a shift in the timing of the associated expense from the second quarter 2023 into the first quarter 2023.
Probably has to do with retro, even though we know it won’t actually get paid out in Q1.
This is straight out of the 8k
the Company has determined that it is appropriate to accrue expense in the first quarter 2023 related to a potential new collective bargaining agreement with employees represented by the Air Line Pilots Association. This accrual represents a shift in the timing of the associated expense from the second quarter 2023 into the first quarter 2023.
Probably has to do with retro, even though we know it won’t actually get paid out in Q1.
03-13-2023, 06:23 PM
#4
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Joined APC: Sep 2022
Posts: 49
That doesn’t even sound right. You can’t have an expense that doesn’t even exist. Earnings call stated less demand and slower growth than expected and travel going back to more traditional times (holidays and weekend travel).. regardless it looks like the economy is cooling off quickly
03-13-2023, 06:24 PM
#5
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Joined APC: Jul 2022
Posts: 38
That doesn’t even sound right. You can’t have an expense that doesn’t even exist. Earnings call stated less demand and slower growth than expected and travel going back to more traditional times (holidays and weekend travel).. regardless it looks like the economy is cooling off quickly
"An accrued expense is one that is known to be due in the future with certainty. The expense has already occurred but not yet been paid.
Companies elect to make provisions for future obligations whose specific amount or date is unknown."
https://www.investopedia.com/ask/answers/030215/whats-difference-between-accrued-expenses-and-provisions.asp#:~:text=An%20accrued%20expense%20is %20one,amount%20or%20date%20is%20unknown.
03-13-2023, 06:25 PM
#6
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Joined APC: Dec 2022
Posts: 293
The post-Covid travel boom was only going to last for so long. People may feel squeezed financially and aren’t going on multiple vacations. They did their first one or two after this last year and a half, but then back to the normal grind.
03-13-2023, 06:57 PM
#8
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Joined APC: Feb 2020
Posts: 476
[QUOTE=RatchetA10;3607275]I'm no expert but...
"An accrued expense is one that is known to be due in the future with certainty. The expense has already occurred but not yet been paid.
Companies elect to make provisions for future obligations whose specific amount or date is unknown."
https://www.investopedia.com/ask/answers/030215/whats-difference-between-accrued-expenses-and-provisions.asp#:~:text=An%20accrued%20expense%20is %20one,amount%20or%20date%20is%20unknown.[/QUOTE]
https://www.sec.gov/ix?doc=/Archives...l-20230313.htm
well rent or scheduled maintenance are better examples. But they’re stating CBA but showing labor cost per seat to be less than expected for Q1… 1% higher vs 2-3% higher is what they initially predicted… which contradicts higher labor costs if I’m reading that correctly
"An accrued expense is one that is known to be due in the future with certainty. The expense has already occurred but not yet been paid.
Companies elect to make provisions for future obligations whose specific amount or date is unknown."
https://www.investopedia.com/ask/answers/030215/whats-difference-between-accrued-expenses-and-provisions.asp#:~:text=An%20accrued%20expense%20is %20one,amount%20or%20date%20is%20unknown.[/QUOTE]
https://www.sec.gov/ix?doc=/Archives...l-20230313.htm
well rent or scheduled maintenance are better examples. But they’re stating CBA but showing labor cost per seat to be less than expected for Q1… 1% higher vs 2-3% higher is what they initially predicted… which contradicts higher labor costs if I’m reading that correctly
03-13-2023, 07:21 PM
#9
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Joined APC: Sep 2020
Posts: 124
This is an attempt to manufacture bad news ahead of a contract vote. They are trying to sell “weaker demand growth in January and February compared to other months” as bad news. They also state that the full year earnings guidance remains the same. There is no bad news in this report! They are only moving costs to the 1st quarter to create a negative headline.
03-13-2023, 07:24 PM
#10
Gets Weekends Off
Joined APC: Sep 2020
Posts: 124
This is so wrong. The report actually cites higher unit revenue than ever as well as higher capacity than 2019.
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