US Airways 4Q profit doubles as planes are fuller
US Airways says net income doubled in the fourth quarter as its planes were fuller and it made more money off each passenger.
The Tempe, Ariz., airline earned $37 million, or 22 cents per share, compared with $18 million, or 11 cents per share a year ago. Excluding special items, net income was 26 cents per share, 7 cents higher than analyst forecasts, according to FactSet.
US Airways, which is in merger talks with AMR Corp., parent of American Airlines, said revenue set a fourth-quarter record of $3.28 billon. That was up about 4 percent.
Revenue per passenger, a key performance indicator for airlines, rose 2.2 percent. Load factor, which measures occupancy, increased nearly 2 percentage points.
US Airways Group Inc. shares rose 2.3 percent to $15.19 in premarket trading.