US Airways posts a third quarter net profit of $95 million

US Airways (Phoenix) reported its third quarter 2011 financial results. The Company reported a net profit excluding special items for the third quarter 2011 of $95 million, or $0.51 per diluted share. This compares with the third quarter 2010 net profit excluding special items of $243 million, or $1.23 per diluted share. On a GAAP basis, the Company reported a net profit for the third quarter 2011 of $76 million, or $0.41 per diluted share. This compares with the third quarter 2010 net profit of $240 million, or $1.22 per diluted share.

The company took delivery of three of its 12 A321 aircraft deliveries scheduled for 2011. The Company expects to take delivery of the remaining nine A321 aircraft in the fourth quarter 2011 and an additional 12 A320 family aircraft in 2012. These 24 aircraft will be used to replace legacy Boeing 737-300/400 aircraft.

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Copyright Photo: Bruce Drum.

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