US Airways posts $41 million second-quarter operating income

By Caroline Salls

Pittsburgh, July 29 - US Airways Group, Inc. reported $41 million in operating income for the second quarter on $1.95 billion in operating revenues, according to a company news release.

The figures compare to $83 million in operating income for the second quarter of 2004 on operating revenues of $1.96 billion.

The company posted a net loss of $62 million for second-quarter 2005, compared to a $34 million net income for second-quarter 2004, according to a company news release.

"Record fuel prices continue to offset the tremendous progress we have made in reducing costs, and we are further hampered by our inability to hedge fuel while in Chapter 11," president and chief executive officer Bruce R. Lakefield said in the release.

Additionally, on June 30, the company reported $1.35 billion in total cash, compared to $1.73 billion on June 30, 2004.

US Airways, an Arlington, Va.-based airline, filed for bankruptcy on Sept. 12, 2004 with the U.S. Bankruptcy Court for the Eastern District of Virginia. Its Chapter 11 case number is 04-13819.

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