I think the numbers look great despite charges for fighting the DOJ...I noticed they mentioned they look forward to the trial in November...I think this is posturing and the merger will happen prior to that time...when, I doubt it would be announced today...remember, all sides, must keep mum until it is resolved...
My gut says the Special Masters will get it done behind closed doors...the CEO of US Airways slipped a while back to express his confidence...someone is saying something positive from both sides for him to expressed that opinion...alomost a leak of positive outcome...
US Airways Profit Down 12% 10/23 06:05 AM
US Airways Group Inc.'s (LCC:$21.95,00$0.73,003.44%) third-quarter earnings fell 12% as merger- related expenses and other items offset the benefits of growth in passenger traffic and a key measure of performance for the industry. US Airways (LCC:$21.95,00$0.73,003.44%) is hoping to merge with AMR Corp. (AAMRQ), a combination that would end a nearly two-year stay in bankruptcy protection for AMR, the parent of American Airlines. However, the two companies first must prevail in a antitrust trial slated to begin next month. In a statement Wednesday, US Airways (LCC:$21.95,00$0.73,003.44%) said both companies are preparing for a vigorous defense of the merger. The U.S. Department of Justice in August sued US Airways (LCC:$21.95,00$0.73,003.44%) and AMR to stop the combination, contending it would drive up ticket prices and rob consumers of choices in air travel. The airlines disagree, saying the combination--which would form the largest U.S. airline by traffic--would give fliers new choices and act as a counterweight against United Continental Holdings Inc. (UAL) and Delta Air Lines Inc. (DAL:$25.49,00$0.80,003.24%) , two carriers that recently bulked up through mergers. US Airways (LCC:$21.95,00$0.73,003.44%) reported a profit of $216 million, or $1.04 a share, down from $245 million, or $1.24 a share, a year earlier. The latest period included a tax provision of $120 million, while the year-earlier included just $1 million. Excluding merger-related costs, a year-earlier gain related to its slot transaction with Delta Air Lines Inc. (DAL:$25.49,00$0.80,003.24%) and other items, adjusted earnings were up at $1.16 from 98 cents. Revenue increased 9.1% to $3.86 billion. Analysts polled by Thomson Reuters recently expected per-share earnings of $ 1.12 and revenue of $3.84 billion. Passenger revenue per available seat mile--a closely watched measure of performance in the airline industry--rose 5.1%. US Airways' (LCC:$21.95,00$0.73,003.44%) passenger traffic rose 4.7%, while capacity rose 4.1%. The percentage of seats filled--or load factor--was up at 85.5% from 84.9%. Last week, AMR reported swinging to a third-quarter profit on record revenue and cost savings achieved in its bankruptcy restructuring. US Airways (LCC:$21.95,00$0.73,003.44%) shares were up by a nickel at $22 in recent premarket trading. Through Tuesday's close, the stock is up 63% this year. Write to Tess Stynes at tess.stynes@wsj.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires 10-23-130905ET Copyright (c) 2013 Dow Jones & Company, Inc.
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