US Airways posts record profit

Posted Thursday, Jan. 24, 2013  comments  Print Reprints
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US Airways, which is pursuing a merger with American Airlines, reported a profit of $37 million for the fourth quarter and a record profit for the full year.

The Tempe, Ariz., carrier said its revenue grew 3.9 percent to $3.3 billion in the final three months of 2012, thanks to higher travel demand. But Superstorm Sandy hurt its quarterly results by about $35 million.

For the full year, US Airways reported a profit of $637 million, compared with $71 million in 2011. It also had record revenue of $13.8 billion, up almost 6 percent from the prior year.

"As we carry this momentum into 2013, we're very pleased with our strategic positioning and extremely well-prepared for whatever may lie ahead," Chief Executive Doug Parker said in a conference call with investors Wednesday.

Citing a nondisclosure agreement with American, Parker declined to answer questions about a possible deal.

Excluding one-time accounting items, US Airways reported a profit of $46 million, or 26 cents a share, beating Wall Street estimates of 19 cents a share, according to Thomson Financial Network.

Shares of US Airways (ticker: LCC) rose 22 cents Wednesday to $15.07. The stock price has doubled in the past year.

Andrea Ahles, 817-390-7631

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