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July 24, 2013

US Airways posts $287 million second quarter profit

US Airways posted a $287 million profit in the second quarter, a 6 percent decline over its second quarter earnings in 2012.

The Tempe-based carrier, which plans to merge with American Airlines' parent company, AMR Corp., said its earnings were hurt by a non-cash provision for income tax of $67 million.

Revenues, however, grew 2.9 percent to a record $3.9 billion as the airline increased capacity by 3.4 percent in the quarter.

"This performance provides excellent momentum as we transition into the new American Airlines," said US Airways chief executive Doug Parker in a statement. "The teams are working very well together and we continue to expect to close the merger in the third quarter." 

US Airways executives will discuss the earnings results on a conference call and webcast with investors at 11 a.m. CDT.

-Andrea Ahles

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Comments

Juan

Nice

Mommi Poppins

The Charlotte, North Carolina hub will be closed soon for US Air. American Airlines will be teaming up with Hawaiian Airlines.

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