US Airways reports record third quarter pretax profit

US Airways Group reported its third quarter 2013 financial results. For the third quarter 2013, pretax profit excluding net special items was a record $367m, a $174m, or 90%, year-over-year improvement. On a GAAP basis, the Company reported a third quarter pretax profit of $336m, up from $246m in 2012. The GAAP net profit for the third quarter 2013 was $216m versus a GAAP net profit of $245m for the same period in 2012. The Company’s 2013 third quarter results include a provision for income tax of $120m, comprised principally of non-cash federal income tax expense, while the 2012 provision for income tax was only $1m.