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 TEMPE, Ariz. (AP) - US Airways Group Inc., which is pushing to buy rival Delta Air Lines Inc. in a hostile takeover bid, on Tuesday said it swung to a profit in the fourth quarter, as strength in both mainline and express operations helped offset high fuel costs.
The company said it posted a profit of $12 million, or 13 cents per share, in the fourth quarter, compared with a loss of $261 million, or $3.27 per share during the same period in 2005.
The results included special items, such as an outstanding fuel hedge contracts, expenses from its September 2005 combination with America West Airlines, and a debt conversion payment, that totaled $74 million. Excluding special items, the company said it posted a profit in the quarter of $86 million, or 91 cents per share.
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