US Airways Group (LCC Quote) reported a first-quarter profit, a result of double-digit improvements in revenue per seat mile at both of the airlines it operates, and predicted it would have earnings for the full year.
Excluding special items, the company -- created by the 2005 merger of US Airways and America West Airlines -- said Tuesday it earned $5 million, or 5 cents a share, compared with a loss of $16 million, or $1.09 a share, in the first quarter of 2005.
Once the items were factored in, earnings were $64 million, or 75 cents a share, compared with $28 million and $1.29 a share, before an accounting change, during the same period a year earlier at America West Holdings, which was considered the acquiring company in the merger. Revenue for the combined companies totaled $2.65 billion. ...
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