1
EXHIBIT 12.1
AMERICA WEST AIRLINES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
REORGANIZED
COMPANY
PREDECESSOR COMPANY -------------
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PERIOD FROM PERIOD FROM
JANUARY 1 TO AUGUST 26 TO
YEARS ENDED DECEMBER 31, AUGUST 25 DECEMBER 31
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1990 1991 1992 1993 1994 1994
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(IN THOUSANDS EXCEPT RATIO OF EARNINGS TO FIXED CHARGES)
Computation of Earnings:
Income (loss) before income taxes and extraordinary
item............................................. $(76,695) $(222,016) $(131,761) $ 37,924 $ (201,209) $19,736
Add:
Interest expense including amortization
of debt
issuance costs................................... 61,239 63,991 55,886 54,252 34,038 22,827
Interest portion of rent expense................... 77,537 106,414 102,314 81,795 51,538 26,879
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Income (loss), as adjusted........................... $ 62,081 $ (51,611) $ 26,439 $173,971 $ (115,633) $69,442
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Computation of Fixed Charges:
Interest expense including amortization of debt
issuance costs................................... $ 61,239 $ 63,991 $ 55,886 $ 54,252 $ 34,038 $22,827
Interest portion of rent expense................... 77,537 106,414 102,314 81,795 51,538 26,879
Capitalized interest............................... 6,375 6,664 -- -- -- 621
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Fixed charges........................................ $145,151 $ 177,069 $ 158,200 $136,047 85,576 50,327
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Ratio of earnings to fixed charges................... (*) (*) (*) 1.28 (*) 1.38
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(*) 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 issuance costs, a portion
of rent expense which is deemed to be representative of an interest factor,
and capitalized interest. For the years ended December 31, 1990, 1991 and
1992 earnings were insufficient to cover fixed charges by $83,070,000,
$228,680,000 and $131,761,000 respectively. For the period ended August
25,1994, earnings were insufficient to cover fixed charges by $201,209,000.