U.S. Airways Group Posts Strong Third Quarter for 2007

US Airways Group has posted a very strong third quarter in 2007. Its net profit for the quarter, excluding special items based on accounting standards, was $185 million in the third quarter of 2007. This is a strong improvement over the third quarter of 2006. In the third quarter of 2006, US Airways Group only had a net profit of $101 million. This increase in the third quarter of 2007 of $84 million compared with the third quarter of 2006 was over an 80 percent increase. This information was provided in a recent press release issued by US Airways Group.

US Airways Group was able to increase their passenger revenue while decreasing their expenses during the third quarter which played a large role in this increase in net profit. According to the press release their mainline passenger revenue per available seat mile was close to 11 cents at 10.85 cents. This was up six and a half percent when compared with the third quarter of 2006. Express passenger revenue per available seat mile was 19.31 cents, which was also up compared to the third quarter of 2006, this time by four percent.

Meanwhile their expenses were lower during the period as well. The cost per available seat mile was only 11.11 cents. This was a decrease of 2.6 percent compared with the same time period last year. There is room for improvement though, because after removing the fuel, unrealized and realized gains/losses on fuel hedging instruments, and maerger related expenses the mainline cost per available seat mile was actually up 7.68 cents. This was a 5.7 percent increase compared with last year in the third quarter.