US Airways Reports Record Third Quarter Pretax Profit

us airwaysUS Airways Group, Inc. reports its third quarter 2013 financial results, including a pretax profit excluding net special items, of a record $367 million, a $174 million, or 90 percent, year-over-year improvement.

On a GAAP basis, the company reported a third quarter pretax profit of $336 million, up from $246 million in 2012. The GAAP net profit for the third quarter 2013 was $216 million, versus a GAAP net profit of $245 million for the same period in 2012.

RELATED: American Airlines Reports Net Profit of $550 Million

DAILY NEWS & DEALS NEWSLETTER

Like this story? Subscribe to Daily News & Deals!

Featuring breaking news on the latest product launches, deals, sales promotions, and executive appointments. Be sure to sign-up for this free industry daily newsletter.

The company's 2013 third quarter results include a provision for income tax of $120 million, comprised principally of non-cash federal income tax expense, while the 2012 provision for income tax was only $1 million.

US Airways' Chairman and CEO Doug Parker said, "We are extremely pleased to report a record pretax profit in the third quarter. These tremendous results are a testament to our 32,000 team members and their dedication to our millions of customers."

"These outstanding results are occurring as our teams continue intensive integration planning work in preparation for our merger with American Airlines. Our hardworking team members, along with their colleagues at American, remain committed to building a combined airline that can compete in the global marketplace. We are eager to present our case and are grateful for the enthusiasm and support our merger continues to receive," Parker said.

Visit www.usairways.com

Read more on:

Suggested Articles:

JetBlue has announced that it will suspend all change and cancellation fees for new flight bookings made through March 11. Details here.

Delta will suspend flights between Seoul and Minneapolis through April 30 and will reduce flights from Seoul to Minneapolis, Detroit and Seattle.

The coronavirus outbreak has cancelled a number of events in Italy, and it’s having travel impacts elsewhere in Europe. Here’s the latest.