US Airways reports first quarter financial results

US Airways Group reported first quarter 2012 net loss excluding net special credits was $22m. Net loss excluding net special charges for the first quarter 2011 was $110m. On a GAAP basis, the Company reported a net profit of $48m for its first quarter 2012 compared to a net loss of $114m for the same period in 2011. Total revenues in the first quarter were a record $3.3bn, up 10.3% versus the first quarter 2011 on a 3.0% increase in total available seat miles (ASMs).