US Airways has bucked the trend of the past two years and ended 2010 in profit. The airline reported a net profit of $502 million, or $2.61 per diluted share for the year, compared to a net loss of $205 million, or $1.54 per diluted share, in 2009, and a net loss of $2.21 billion in 2008. Operating revenue also increase by 13.9% in 2010 to $11.9 billion.
US Airways CEO Doug Parker said action taken to reduce capacity, as well as realigning its network to focus on key markets, introducing new revenue streams and controlling costs, helped to put the airline back in profit.
“These steps, combined with 2010’s improving economic environment, have now put US Airways back on the path to sustained profitability,” he said. “We fully understand, though, that remaining on that path requires commitment to the same steps that allowed us to navigate through the crisis. US Airways has such a commitment and because of it, we enter 2011 with confidence and excitement about the years to come.”
