US Airways posts quarterly profit vs loss
US Airways Group, which is pursuing a hostile takeover of Delta Air Lines, posted better-than-expected quarterly profit on Tuesday, reversing a year-earlier loss, helped by a lower fuel bill and higher fares. Fourth-quarter profit totaled $12 million,...
US Airways Group, which is pursuing a hostile takeover of Delta Air Lines, posted better-than-expected quarterly profit on Tuesday, reversing a year-earlier loss, helped by a lower fuel bill and higher fares.
Fourth-quarter profit totaled $12 million, or 13 cents per share, compared with a loss of $261 million, or $3.27 per share, a year earlier.
Excluding special items, profit was $86 million, or 91 cents per share. On that basis, analysts' average forecast was 80 cents a share, according to Reuters Estimates. Special items included costs related to fuel hedges and the 2005 merger of America West and US Airways.
Quarterly revenue rose to $2.8 billion from $2.6 billion a year earlier.
US Airways's profit follows a series of mixed quarterly results from other US airlines. Yesterday, JetBlue Airways Corp. posted a fourth-quarter profit of $17 million vs. a year-earlier loss.
Major airlines have been hammered by high fuel costs and competition from discount carriers. But in recent months, fuel prices have eased and airlines have implemented several fare increases.