US Airways Group full year 2012 net profit excluding net special items was a record $537 million, or $2.79 per diluted share. This is a 384% improvement over the Company's 2011 net profit of $111 million excluding net special items, or $0.68 per diluted share.
Fourth quarter net profit excluding net special items was $46 million, or $0.26 per diluted share. This compares to a fourth quarter 2011 net profit excluding net special items of $21 million, or $0.13 per diluted share.
The airline's employees earned approximately $61 million in profit sharing for the full year results, up 408 percent versus 2011, and an additional $19 million in operational incentive payouts through November.
US Airways Group, Inc. Chairman and CEO Doug Parker stated, "We couldn't be happier with the performance of US Airways in 2012. Our 32,000 hard-working team members did a phenomenal job of running a safe and reliable airline for our customers and these record financial results are the result of their efforts.
"Our team members produced the best operating reliability performance in our history -which is no easy feat since US Airways led all network carriers in on-time performance from 2008-2011. But in 2012, we did even better with record highs in on-time performance, completion factor and baggage handling. This helped lead to our best ever annual results in total revenue, total traffic, mainline load factor, mainline yield and mainline revenue.
"These outstanding operating and revenue results combined with strong cost discipline led to record net income excluding special items of $537 million, up nearly 400 percent versus last year. Our shareholders were rewarded for their confidence in our team as US Airways stock increased 166 percent in 2012, the largest increase of any company in the Fortune 500.
"We enter 2013 with great momentum and enthusiasm and are well positioned for whatever may lie ahead," concluded Parker.
US Airways reports highest annual profit in company history
