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updated: 10/24/2012 9:24 AM

US Airways posts record 3Q profit

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Associated Press

DALLAS -- US Airways made its best profit ever for the 3-month stretch that covers much of the peak summer vacation season.

Net income for the third quarter totaled $245 million, or $1.24 per share, compared with $76 million, or 41 cents per share, a year earlier, the airline said Wednesday.

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The results are especially important to US Airways Group Inc. as it pursues a merger with American Airlines. Tempe, Ariz.-based US Airways, the nation's fifth-biggest airline, is trying to impress American's creditors that a combined company would be more successful than American can become on its own.

Before gains such as the sale of airport landing slots, US Airways would have earned $192 million, or 98 cents per share, in the third quarter. 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 said the revenue environment remains strong. Travel demand and a limited supply of airplane seats have allowed airlines to raise prices about a dozen times since the start of 2011.

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