US Airways Group Inc. said Tuesday it posted a profit of 12 million dollars, or 13 cents per share, for the fourth quarter last year, compared to a net loss of 261 million dollars, or 3.27 dollars per share, for the same period in 2005.
Excluding special items such as an outstanding fuel hedge contracts, expenses from its September 2005 combination with America West Airlines, and a debt conversion payment, US Airways reported a net profit of 86 million dollars, or 91 cents per share, for the fourth quarter, according to a press release issued by the carrier.
In the fourth quarter, U.S. Airways' revenue totaled 2.79 billion dollars, up 9 percent from the same period a year earlier.
For the full year 2006, the carrier posted a net profit of 303 million dollars, including special items of 204 million dollars. It reported a net loss of 188 million dollars for the previous year.
The Tempe, Arizona-based airline is seeking to buy Delta Air Lines Inc., the third-largest airline in the United States, which is still under bankruptcy protection.
In November last year, US Airways, the sixth-largest US carrier, announced a merger proposal to Delta "under which both companies would combine upon Delta's emergence from bankruptcy."
Delta, however, said it opposed a buyout by US Airways and planned "to emerge from bankruptcy as an independent airline."
(Xinhua News Agency January 31, 2007)