US Airways reports record second quarter profit

US Airways Group reported its second quarter 2013 financial results. For the second quarter 2013, pretax profit excluding net special items was $409m, the highest in Company history. Net profit excluding net special items was a record $324m. Net profit excluding net special items for the second quarter 2012 was $321m. The Company’s 2013 second quarter net profit excluding net special items was negatively impacted by a non-cash provision for income tax of $85m. There was no provision for income tax recorded in 2012. On a GAAP basis, the Company reported a net profit of $287m for its second quarter 2013. This compares to a net profit of $306m for the same period in 2012. The Company’s 2013 second quarter net profit was negatively impacted by a non-cash provision for income tax of $67m.