US Airways posts $19.27 million March operating income

By Caroline Salls

Pittsburgh, May 3 - US Airways Group Inc. reported operating income of $19.27 million for March, compared to February's $85.67 million loss, according to the company's monthly operating report filed Monday with the U.S. Bankruptcy Court for the Eastern District of Virginia.

US Airways reported net income of $65.08 million in March, compared to a $119.22 million February loss.

The company attributes the turnaround to the termination of its three defined benefit plans, which has been reversed pending resolution of the claims filed by the Pension Benefit Guaranty Corp., according to the filing.

Cash and cash equivalents were $512.52 million as of March 31.

Arlington, Va.-based US Airways filed for bankruptcy on Sept. 12, 2004. Its Chapter 11 case number is 04-13819.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.