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October 24, 2012

US Airways posts $245 million profit

US Airways more than tripled its third quarter profit to $245 million as the carrier said travel demand was up.

Revenues grew 2.8 percent to $3.5 billion in the quarter. The company said it grew capacity 2.7 percent and its average fuel price declined 2.4 percent to $3.07 per gallon of jet fuel.

"We are setting company records in all the operational metrics that matter to our customers, including completion factor, on-time arrivals and baggage handling," said chief executive Doug Parker. "This record operating reliability is driving strong customer demand and keeping costs in check, resulting in outstanding financial performance."

Excluding one-time accounting items, including a $67 million gain from its slot swap transaction with Delta Air Lines, the carrier would have posted a profit of $192 million, or 98 cents per share. That beat Wall Street analysts estimates of 91 cents per share. -Andrea Ahles

Comments

DG

Maybe Mr. Parker could use some of that profit to settle the contracts of his own employees and finally pay them a reasonable rate. Why would anyone want to jump into the mess at US?

airlinerealist

I thought one of Parker's main pro-merger arguments was that US Airways couldn't succeed on its own while having to compete against "mega" carriers like Delta and United?

Guess that theory has been put to rest.

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