US Airways Loss Down On Higher Demand

April 27, 2010

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US Airways, which last week ended merger talks with United, posted a narrowed quarterly loss on Tuesday on higher passenger yields and the return of business traffic.

The company said its first-quarter net loss amounted to USD$45 million, compared with a loss of USD$103 million a year before.

The carrier reported USD$44 million in special items.

US Airways said it lost USD$30 million in revenue during February as a result of the severe winter storms on the US East Coast.

The airline industry is recovering from an economic downturn that has drained travel demand.

The carrier said its revenue gained 8 percent to USD$2.65 billion.

US Airways ended the quarter with an unrestricted cash and investments balance of USD$1.6 billion, up USD$100 million from the end of 2009.

(Reuters)