US Airways Posts Record Annual Profit
Jan 23rd 2013 5:57PM
Updated Jan 23rd 2013 6:50PM
US Airways Group released its Q4 and full-year 2012 results, showing its highest-ever net profit for the latter period. On a GAAP basis for fiscal 2012, the company netted $637 million ($3.28 per diluted share), or nearly nine times 2011's figure of $71 million ($0.44 diluted EPS). Operating revenues were $13.8 billion, or 6% higher than in 2011.
The quarterly net profit also saw a sizable jump, to $37 million ($0.23 diluted EPS) from Q4 2011's $18 million ($0.11). Operating revenue advanced over the same time frame; it was $3.3 billion in this most recent quarter, against $3.2 billion in the year-ago period.
The company attributed the improvements to "a strong demand environment and record passenger yields." In a follow-up conference call, company President Scott Kirby said US Airways expects 2%-4% growth in unit revenue on a year-over-year basis for both February and March.
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