US Airways Group posted a first-quarter net profit of $48 million versus a $114 million loss a year earlier.
The net profit included a $70 million credit associated with a slot transaction executed with Delta at New York LaGuardia and Washington National airports.
"We are pleased to report significantly improved first-quarter financial results in spite of record-high fuel prices," according to CEO Doug Parker. "Consumer demand for our product remains very high, resulting in record-high first-quarter revenue, load factor, yield and passenger revenue per available seat mile."
Passenger revenue increased 11.5% to $2.9 billion.
Source: Business Travel News