US Airways Cuts Net Loss to $335 Million
US Airways Group Inc.’s third-quarter net loss narrowed to $335 million as the seventh-largest U.S. carrier, which filed for bankruptcy protection in August, cut workers, debt and flights.
The loss of $4.92 a share narrowed from $766 million, or $11.42, a year earlier, when results were hurt by the Sept. 11 terrorist attacks, the Arlington, Va.-based airline said. Sales fell 12% to $1.75 billion.
US Airways’ results pushed the 10 major U.S. airlines’ combined net loss to more than $2.5 billion for the quarter.
US Airways shares fell 1 cent to 52 cents in over-the-counter trading.
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