America West Airlines Inc (706270) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 31, 2007

Contact: Elise Eberwein
480/693-5574

FOR IMMEDIATE RELEASE

US AIRWAYS GROUP, INC. REPORTS FIRST QUARTER PROFIT

Highlights of the US Airways Group, Inc. (the Company) first quarter 2007 results:

	•		The Company reported a first quarter 2007 net profit of $66 million, or $0.70 per diluted share.
	•		Excluding special items, the Company reported a first quarter 2007 net profit of $34 million, or $0.37 per diluted share .
	•		The Company accrued approximately $4 million, or 10 percent of its first quarter 2007 pretax income excluding special items, for its annual employee profit sharing program.
	•		The Company had $3.3 billion in total cash and investments, of which $2.5 billion was unrestricted, on March 31, 2007

TEMPE, Ariz., Apr. 26, 2007 — US Airways Group, Inc. (NYSE: LCC) today reported its first quarter 2007 results. Net profit for the first quarter was $66 million, or $0.70 per diluted share, compared to a net profit before cumulative effect of change in accounting principle of $64 million, or $0.75 per diluted share for the same period last year. Excluding net credits from special items of $32 million, the Company reported a net profit of $34 million, or $0.37 per diluted share. This compares to a net profit, before cumulative effect of change in accounting principle of $5 million, or $0.05 per diluted share in the first quarter of 2006, which excludes net credits from special items of $59 million. See the accompanying notes in the Financial Tables section of this press release for a reconciliation of Generally Accepted Accounting Principles (GAAP) financial information to non-GAAP financial information

Chairman and CEO Doug Parker stated, “We are pleased to report a first quarter profit and an improvement in year-over-year earnings. This is particularly noteworthy given the first quarter was extremely difficult for us operationally. We were affected by two major storms that temporarily closed our Philadelphia hub and severely impacted our Northeast operations. Service disruptions also occurred during the quarter when we converted our two reservation systems to a single system.

“Our 36,000 employees are to be commended for their outstanding efforts, particularly our employees who work with customers at our airports and reservation call centers. Our team did a remarkable job of taking care of our customers during a challenging conversion. We still have work to do to ensure our people have the tools they need to