Pan American Airways Q1swung to a $48000000 profit

SAN FRANCISCO, April 25 evening news, Pan American Airways (U.S. Airways Group Inc.) on Wednesday reported its first fiscal quarter to achieve profitability, but the performance increase was driven by the sale of part of the takeoff and landing rights for Pan American World Airways also reported on its core business is still a loss, but the loss rate is much lower than market analysts had expected, mainly due to strong demand for air travel to help ease the growth in fuel costs.

At the same time, the fifth-largest U.S. air carriers also reported quarter revenues exceeded the average analysts had expected.

Pan American Airways came in by the market, more and more attention because American Airlines parent AMR Corp. filed for bankruptcy protection in November last year, the company has been seeking acquisitions of American Airlines. Pan American Airlines in recent weeks has also strengthened its efforts to the pursuit of American Airlines, said last week that the merger plan has received the support of three unions in the United States. Pan American World Airways and American Airlines merger will create a new giant in the U.S. airline industry.

The results, Pan American Airways, the first-quarter profit of $ 48 million, about a profit of 28 cents per share, a year earlier the company lost $ 114 million, about the loss per share of 71 cents. Excluding one-time items, the company's quarterly loss of 13 cents per share, but still better than market analysts had on average expected a loss of 63 cents per share.

The earnings report also showed that the company for the quarter operating income rose 10% to $ 3.27 billion. The market analysts on average had expected quarter loss per share of 25 cents, it is expected that its revenue will be $ 3.24 billion.

In the first quarter, Pan American Airlines revenue passenger miles rose 8.2%.

Throughout the aviation industry, fuel costs seriously affect the performance of the airline. In the first quarter, the operating costs of the Pan American airlines to reach $ 3.2 billion, compared with an increase of 6.9 percent a year earlier, mainly by fuel substantially increase the cost of $ 160 million to promote