* Adjusted Q1 profit 31 cents/share vs Street view 28 cents
* Merger with American Air still seen closing in 3rd quarter
* Shares up 3 percent
April 23 US Airways Group Inc reported a
higher-than-expected quarterly profit on Tuesday as it flew
fuller planes and boosted revenue, and its shares rose 3
The carrier, which plans to merge with AMR Corp
unit American Airlines this year and form the world's largest
airline, said first-quarter net income was $44 million, or 26
cents a share, compared with $48 million, or 28 cents a share, a
Excluding one-time items, profit came to 31 cents a share,
topping analysts' average forecast of 28 cents, according to
Thomson Reuters I/B/E/S.
Operating revenue rose 3.5 percent to $3.4 billion.
Passenger revenue per available seat mile, an important measure
called unit revenue, was up 1.3 percent.
Expenses rose 2.2 percent, with costs tied to salaries up 5
Load factor, or the percentage of seats filled, was 81.7
percent in the quarter for US Air and its regional carriers,
compared with 79.3 percent a year earlier.
US Airways said it expects the merger with American, which
should produce more than $1 billion in cost savings by 2015, to
be completed in the third quarter.
Shares of US Airways were up 49 cents to $16.01 in morning