Six Flags swings to Q2 loss
The group, which operates theme parks, waterparks and animal attractions across the US, Canada and Mexico, said second-quarter losses totalled US$121.6m, compared with a profit of $87.4m a year earlier. Revenues dropped 13 per cent to $302.1m.
Six Flags attributed the decline to plummeting attendance figures, as fewer companies, schools and other organizations bought group packages amid the economic downturn. The H1N1 flu outbreak and the weaker Mexican peso and Canadian dollar also hurt results.
The New York City-based company filed for Chapter 11 bankruptcy protection in June.
"The restructuring of the company’s finances has not affected our in-park product," said chief executive Mark Shapiro. "We are diligently containing costs and you’d never believe we were in the midst of a financial reorganization."