US Airways has reported a record second quarter net profit of $321 million, or $1.61 per diluted share. This is a 203 percent increase versus the Company's second quarter 2011 net profit excluding net special charges of $106 million, or $0.56 per diluted share.
On a GAAP basis, the Company reported record net profit for the second quarter 2012 of $306 million, or $1.54 per diluted share. This is 233 percent above the second quarter 2011 net profit of $92 million, or $0.49 per diluted share. It is also the highest quarterly profit in company history.
The Company accrued $33 million during the quarter for its annual employee profit sharing program. In addition, through May US Airways' employees earned approximately $10 million in operational incentive payouts related to the Company's outstanding operational performance.
US Airways Group, Inc. (NYSE: LCC) today reported its second quarter 2012 financial results. For the second quarter 2012, net profit excluding net special charges was a record $321 million, or $1.61 per diluted share versus $106 million, or $0.56 per diluted share in the Company's second quarter 2011. On a GAAP basis, the Company reported a record net profit of $306 million for its second quarter 2012, or $1.54 per diluted share, compared to a net profit of $92 million, or $0.49 per diluted share, for the same period in 2011.
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