US Airways' Business Off 20%

CHARLOTTE, N.C. -- US Airways(LCC Quote) said unit revenue fell 20% in June, days after Continental(CAL Quote) reported a similar 20% decline.

US Airways President Scott Kirby said the decline in passenger revenue per available seat mile was "driven by weaker demand for business travel and lower leisure yields as a result of the global economic recession." In a prepared statement, Kirby said total RASM, which generally includes fee revenue, declined 18%. Only a handful of airlines report monthly unit revenue numbers.

US Airways said revenue passenger miles declined 4.1%, while capacity declined 6.1%, enabling the carrier to report a 1.8 point increase in load factor to a June record 86.8%. ...