US Airways posts profit on higher revenue

The Associated Press

TEMPE — Arizona-based US Airways Group Inc. on Thursday said it swung to a profit in the third quarter as its revenue rose and the carrier reduced the number of flights flown.

Net income for the three months ended Sept. 30 rose to $177 million, or $1.87 per share, compared with a loss of $78 million, or a loss of 88 cents per share, during the same period last year.

Excluding special items, the company reported a profit of $185 million, or $1.96 per share, compared with $101 million, or $1.09 per share, a year ago.

Analysts surveyed by Thomson Financial had been expecting earnings, on average, of $1.75 per share. Those forecasts typically exclude one-time costs.

Revenue for the quarter increased to $3.04 billion, up from $2.97 billion. Analysts predicted revenue of $3.06 billion.

US Airways said its passenger revenue per available seat mile — a key measure of airline performance — rose 12.15 cents, or 5.6 percent. At the same time, capacity, or the number of flights flown, fell by more than 2 percent.