Thursday, May 23, 2013
US Airways posts record 3Q profit
Associated Press
POSTED: 02:45 a.m. HST, Oct 24, 2012
DALLAS (AP) — US Airways says it earned $245 million in the third quarter, its best profit ever for the 3-month period that covers much of the peak summer vacation season.
The airline says it would have earned $192 million, or 98 cents per share, before gains such as a swap of airport landing slots with Delta Air Lines.
Analysts were expecting 92 cents per share excluding one-time items.
Revenue rose 3 percent to $3.53 billion but fell short of analysts’ expectations of $3.55 billion.
CEO Doug Parker says the revenue environment remains strong. Travel demand has been strong enough to allow airlines to raise prices about a dozen times since the start of 2011.
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