US Airways Reports Fourth Quarter and Full Year Profit

Tempe, Ariz., Jan. 25, 2012
Highlights of US Airways Group, Inc.’s (the Company) fourth quarter and 2011 results:

  • Fourth quarter net profit excluding net special charges was $21 million, or $0.13 per diluted share. This compares to a fourth quarter 2010 net profit excluding net special charges of $28 million, or $0.17 per diluted share
  • Full year 2011 net profit excluding net special charges was $111 million, or $0.68 per diluted share. This compares to a full year 2010 net profit excluding net special credits of $447 million, or $2.34 per diluted share
  • A 38 percent increase in consolidated fuel price drove the year-over-year decline in profitability in 2011. Had average fuel prices remained at 2010 levels, 2011 fuel expense would have been approximately $1.2 billion lower
  • The airline’s employees earned approximately $12 million in profit sharing for the full year results, and an additional $13 million in operational incentive payouts during 2011

US Airways Group, Inc. (NYSE: LCC) today reported its fourth quarter and 2011 financial results. For the fourth quarter 2011, net profit excluding net special charges was $21 million, or $0.13 per diluted share. Net profit excluding net special charges for the fourth quarter 2010 was $28 million, or $0.17 per diluted share. On a GAAP basis, the Company reported a net profit of $18 million for its fourth quarter 2011, or $0.11 per diluted share, compared to a net profit of $28 million, or $0.17 per diluted share, for the same period in 2010.

US Airways Reports Fourth Quarter and Full Year ProfitFor full year 2011, the Company reported a net profit of $111 million, or $0.68 per diluted share, which excludes net special charges totaling $40 million. This compares to a full year 2010 profit excluding net special credits of $447 million, or $2.34 per diluted share. On a GAAP basis, the Company reported a net profit of $71 million, or $0.44 per diluted share for 2011, compared to a net profit of $502 million, or $2.61 per share, in 2010.

US Airways Group, Inc. Chairman and CEO Doug Parker stated, “We are very pleased to report a profit for both the fourth quarter and full year of 2011, particularly given the extraordinarily high cost of jet fuel”.

Strong demand for our product and outstanding operations performance by the US Airways team resulted in numerous records set by our airline. Passenger revenue, total revenue, and passenger revenue per available seat mile all set new Company records for both the fourth quarter and the full year. We also had our best fourth quarter ever in terms of operating reliability, including our best on-time performance, highest completion factor and lowest mishandled baggage ratio“.

Looking forward, we are encouraged by the continued strength in demand and believe US Airways is well positioned for success in 2012 and beyond.”

Web: www.usairways.com


Select a text and click to listen

Print Friendly, PDF & Email
Share