US Airways Posts Record Q3 Profit

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A US Airways tail rest on the tarmac near two American Airlines planes. (credit: Jim Watson/AFP/Getty Images)

DALLAS (AP) – US Airways says it earned $245 million in the third quarter, its best profit ever for the 3-month period that covers much of the peak summer vacation season.

The airline says it would have earned $192 million, or 98 cents per share, before gains such as a swap of airport landing slots with Delta Air Lines.

Analysts were expecting 92 cents per share excluding one-time items.

Revenue rose 3 percent to $3.53 billion but fell short of analysts’ expectations of $3.55 billion.

CEO Doug Parker says the revenue environment remains strong. Travel demand has been strong enough to allow airlines to raise prices about a dozen times since the start of 2011.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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