July 24, 2013 / 12:36 PM / in 4 years

US Airways posts lower quarterly profit

(Reuters) - US Airways Group Inc LCC.N, reported a lower quarterly profit on Wednesday, as it recorded an income-tax provision that was absent a year earlier.

The carrier, which plans to merge with AMR Corp’s AAMRQ.PK American Airlines and form the world’s biggest airline this year, said net income came to $287 million, or $1.40 a share, in the second quarter, compared with $306 million, or $1.54 a share, a year earlier.

The company said it had an income-tax provision of $67 million in the latest period; there was no such item recorded a year earlier.

Quarterly revenue rose about 3 percent to $3.9 billion as planes were fuller, but yields were lower. Operating expenses rose 1 percent, with fuel costs down 3.8 percent and salary expenses up 4 percent.

Reporting by Karen Jacobs in Atlanta; Editing by Gerald E. McCormick

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