67 F
Fort Worth
Sunday, September 20, 2020
- Advertisements -
Transportation US Airways has good quarter on way to American merger

US Airways has good quarter on way to American merger

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...
Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

 

JOSHUA FREED,AP Airlines Writer

Full planes were good to US Airways in the first quarter.

America’s fifth-largest airline on Tuesday posted a bigger adjusted profit as it carried more passengers, and collected more from them.

Automatic government spending cuts hurt demand from government travelers, who account for about 3 percent of US Airways revenue. Revenue from government travelers dropped 37 percent in March, when the spending cuts kicked in. The airline has a hub at Reagan National Airport in Washington.

However, “leisure demand has remained quite strong thus far in 2013,” President Scott Kirby said on a conference call. Bookings for May are higher than at the same time last year, he said.

The airline earned $44 million, or 26 cents per share. Its adjusted profit was 31 cents per share, topping the expectations of analysts polled by FactSet.

Revenue rose 3.5 percent to $3.38 billion, driven by what the airline called “a strong demand environment.”

The airline earned 28 cents per share in the year-ago quarter, but that was inflated by a swap with Delta that gave US Airways more landing rights in Washington in exchange for giving up rights at New York’s LaGuardia airport.

Traffic rose 4.4 percent, pushing occupancy up by 2.4 percentage points, to 81.7 percent.

Fuel prices fell by 3 cents per gallon, to $3.24.

US Airways plans to merge with American Airlines. The combined airline would be the biggest in the world. US Airways said it still expects the deal to close by the end of September, and it’s hoping to code-share on American’s flights within six weeks of that. Code-sharing allows airlines to sell seats on each other’s flights, which makes it easier and more attractive for passengers to book flights that involve both airlines.

Shares of Tempe, Arizona-based US Airways Group Inc. rose 78 cents, or 5 percent, to close at $16.30.  

- Advertisements -
- Advertisements -

Latest News

Raytheon doubles job cuts to 15,000, citing airline downturn

WALTHAM, Mass. (AP) — Raytheon Technologies Corp. plans to eliminate more than 15,000 jobs this year at its corporate offices, jet engine-maker...

Panel’s report blasts Boeing, FAA for crashes, seeks reforms

By TOM KRISHER AP Business Writer A House committee issued a scathing report Wednesday questioning whether Boeing and government...

GM Financial collects food for TAFB

 GM Financial sponsored an event on Sept. 10 to gather non-perishable items for the Tarrant Area Food...

Chick-fil-A: No longer seeking lease at San Antonio airport

By ACACIA CORONADO Report for America/Associated PressAUSTIN, Texas (AP) — Chick-fil-A said Monday that it no longer plans to open a restaurant...

American Airlines holding off decision to cut some flights

FORT WORTH, Texas (AP) — American Airlines confirmed Monday it is holding off on its decision to cut flights to Stillwater, Oklahoma,...