US Airways Group posts a $21M Net Profit for the Fourth Quarter

US Airways Group, Inc. (NYSE:LCC) has traded as high as $7.53 during today�s trading session and last traded at the high of the day for a gain of 17.47% from yesterday�s close. LCC shares have traded as high as $11.28 over the past 52 weeks, which is 33.24% off that high at last traded stock price. Get my next ALERT 100% FREE

LCC today reported its fourth quarter and 2011 financial results. For the fourth quarter 2011, net profit excluding net special charges was $21 million, or $0.13 per diluted share. Net profit excluding net special charges for the fourth quarter 2010 was $28 million, or $0.17 per diluted share. On a GAAP basis, the Company reported a net profit of $18 million for its fourth quarter 2011, or $0.11 per diluted share, compared to a net profit of $28 million, or $0.17 per diluted share, for the same period in 2010.

For full year 2011, the Company reported a net profit of $111 million, or $0.68 per diluted share, which excludes net special charges totaling $40 million. This compares to a full year 2010 profit excluding net special credits of $447 million, or $2.34 per diluted share. On a GAAP basis, the Company reported a net profit of $71 million, or $0.44 per diluted share for 2011, compared to a net profit of $502 million, or $2.61 per share, in 2010. See the accompanying notes in the Financial Tables section of this press release for a reconciliation of GAAP financial information to non-GAAP financial information.

US Airways Group, Inc. Chairman and CEO Doug Parker stated, “We are very pleased to report a profit for both the fourth quarter and full year of 2011, particularly given the extraordinarily high cost of jet fuel.

“Strong demand for our product and outstanding operations performance by the US Airways team resulted in numerous records set by our airline. Passenger revenue, total revenue, and passenger revenue per available seat mile all set new Company records for both the fourth quarter and the full year. We also had our best fourth quarter ever in terms of operating reliability, including our best on-time performance, highest completion factor and lowest mishandled baggage ratio.

“Looking forward, we are encouraged by the continued strength in demand and believe US Airways is well positioned for success in 2012 and beyond.”