US Airways Group Posts Better Than Expected Q1 Results
Apr 26, 2011
US Airways Group (NYSE:LCC) reported a Q1 loss of $0.68 per share, better than the expected loss of $0.72 per share. Revenue for the quarter was up 11.7% year-over-year to $2.96 billion, edging the consensus estimate for $2.94 billion.
US Airways Group, Inc. Chairman and CEO Doug Parker stated, "Our first quarter results were clearly impacted by the extremely high price of oil, but our team did an exceptional job of managing to largely offset that impact. Demand for our product was strong and unit revenues increased more than eight percent. We also continued to keep our non-fuel expenses in check as evidenced by a year-over-year decline in our mainline non-fuel unit costs."