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US Airways Group, Inc. Reports Fourth Quarter and 2009 Financial Results
TEMPE, Ariz., Jan 28, 2010 (BUSINESS WIRE) --
--The Company reported a net loss excluding special items for the fourth quarter 2009 of $32 million, or ($0.20) per share. This compares favorably to the fourth quarter 2008 net loss excluding special items of $222 million, or ($1.94) per share.
--The Company reported a full year 2009 net loss excluding special items of $499 million, or ($3.75) per share, versus a net loss excluding special items of $808 million, or ($8.06) per share, for the full year 2008.
--Mainline cost per available seat mile (CASM) excluding fuel and special items in the fourth quarter increased year-over-year by less than one percent despite a two percent reduction in mainline capacity (ASMs). This cost containment resulted primarily from efficiencies created by the Company's industry leading operating reliability performance.
--The Company's total cash and investments on Dec. 31, 2009 was $2.0 billion, of which $0.5 billion was restricted. The Company's unrestricted cash position increased by $261 million versus Dec. 31, 2008.
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