, through its subsidiaries US Airways Shuttle and US Airways Express, operates more than 3,200 passenger flights per day serving 80 million passengers each year together with affiliate US Airways Express. The company is part of the Star Alliance Network and offers scheduled services in the U.S., Europe, the Middle East and South America.
Total revenue reported for second quarter 2011 was $3.5 billion, up 10.5% from the same quarter prior year. The considerable rise in the overall demand environment coupled with higher passenger yield boosted top-line. The company observed a 3.3% increase in total available seat miles; total revenue per available seat mile rose 7% from the earlier year to 15.36 cents.
Net income stood at $106 million for the second quarter 2011. Doug Parker, US Airways Group's CEO, said "We are pleased to report a profit for the second quarter of 2011 - particularly in spite of a 47% year-over-year increase in fuel price. Overall demand for our services remained strong during the quarter with revenues up more than 10%, while our mainline unit cost excluding special items, fuel and profit sharing increased only one percent." The stock has 123% upside over the next one year with a buy rating of 43%.
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