October 23, 2013

US Airways reports record third quarter pretax profit

US Airways Group reported its third quarter 2013 financial results. For the third quarter 2013, pretax profit excluding net special items was a record $367m, a $174m, or 90%, year-over-year improvement. On a GAAP basis, the Company reported a third quarter pretax profit of $336m, up from $246m in 2012. The GAAP net profit for the third quarter 2013 was $216m versus a GAAP net profit of $245m for the same period in 2012. The Company’s 2013 third quarter results include a provision for income tax of $120m, comprised principally of non-cash federal income tax expense, while the 2012 provision for income tax was only $1m.

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