Exhibit 99.1
(LOGO)
Contact: Elise Eberwein
480/693-5574
FOR IMMEDIATE RELEASE
US AIRWAYS GROUP, INC. REPORTS PROFITABLE
FIRST QUARTER 2006
Highlights of the new US Airways Group, Inc. first quarter 2006 results before the cumulative effect of a change in accounting principle:
    First quarter 2006 profit of $64 million or $0.75 per diluted share.
 
    Excluding special items, first quarter 2006 profit of $5 million or $0.05 per diluted share.
 
    As of March 31, 2006, the Company had $2.6 billion in total cash and investments, of which $1.6 billion was unrestricted.
TEMPE, Ariz., May 9, 2006 — The new US Airways Group, Inc. (NYSE: LCC) today reported a first quarter 2006 profit before the cumulative effect of a change in accounting principle of $64 million or $0.75 per diluted share. This compares to a profit before the cumulative effect of a change in accounting principle of $28 million or $1.29 per diluted share for the same period last year. Results for the new US Airways Group’s first quarter 2006 are being compared to America West’s standalone results for first quarter 2005 due to the former US Airways Group and America West Holdings Corporation merger on Sept. 27, 2005. Although the merger was structured so that America West became a wholly owned subsidiary of the new US Airways Group, America West was treated as the acquiring company for accounting purposes under Statement of Financial Accounting Standards No. 141 “Business Combinations.”
US Airways Group’s first quarter 2006 results include a $90 million gain associated with the forgiveness by Airbus of a Company loan, which represents the return of certain aircraft deposits previously paid to Airbus as restructuring fees in conjunction with the merger. In addition, the Company recognized a $26 million unrealized gain related to the airline’s fuel hedges. These gains were offset in part by $46 million of merger-related transition expenses and $11 million of costs incurred in connection with the extinguishment of certain debt instruments as part of the loan refinancing completed with GE Commercial Finance on March 31, 2006. The Company also recognized a $1 million gain from the cumulative effect of a change in accounting principle upon the adoption of SFAS No. 123R, “Share-Based Payment.” Excluding these special items, the Company reported a first quarter 2006 profit of $5 million or $0.05 per diluted share versus a loss

1


The following information was filed by America West Airlines Inc on Tuesday, May 9, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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