US Airways 2Q income falls 6% - Los Angeles News | FOX 11 LA KTTV

US Airways 2Q income falls 6%

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By The Associated Press

US Airways says second-quarter profit fell 6% from last year, but still beat Wall Street expectations heading into its merger with American Airlines.

US Airways Group Inc. said Wednesday that net income was $287 million, or $1.40 per share, in the April-June quarter. That's down from $306 million, or $1.54 per share, a year ago. The company blamed an $85 million income tax provision that it didn't face last year.

Excluding merger and debt-retirement costs, US Airways says it would've earned $1.58 per share. That tops the $1.52 per share that analysts were expecting.

Revenue is up 3% to $3.87 billion.

US Airways and American plan to close their merger by the end of September and create the world's biggest airline, which will keep the American name.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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