US Airways profit soars on 'strong demand environment'

US Airways Group posted a "record" fourth-quarter net profit of $37 million, more than double the result from a year earlier, despite a $35 million negative impact from Hurricane Sandy.

Passenger revenue increased by 4%. For full-year 2012, the company reported a $637 million net profit, up from $71 million in 2011.

Excluding special items, the full-year profit more than quadrupled to a "record" $537 million.

US Airways attributed the performance partially to "a strong demand environment and record passenger yields."

Chairman and CEO Doug Parker in a statement noted "record highs in on-time performance, completion factor and baggage handling."

He added that US Airways stock during 2012 jumped 166%, "the largest increase of any company in the Fortune 500."

Source: Business Travel News 
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