US Airways Posts Sharply Higher Profit

 

US Airways Posts Sharply Higher Profit

US Airways Posts Sharply Higher Profit

US Airways on Wednesday said strong passenger demand helped produce the highest second quarter net profit in company history.

Net income was USD$306 million in the second quarter, more than three times the USD$92 million recorded a year earlier.

Excluding items, profit was USD$321 million.

Operating revenue rose 7 percent to USD$3.75 billion, outpacing a rise of just 0.7 percent in total operating expenses. Costs for fuel and related taxes fell 4 percent in the quarter.

As US carriers have consolidated in recent years, US Airways is looking to follow suit, having disclosed its interest earlier this year in combining with bankrupt American Airlines parent AMR, which is evaluating potential merger partners.

(Reuters)



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