US Airways is reporting a first-quarter profit of $48 million because of one-time items, although it lost money on flying.
The profit of $48 million worked out to 28 cents per share. A year ago, the airline lost $114 million, or 71 cents per share.
US Airways booked a $73 million gain after it traded landing rights in Washington and New York with Delta Air Lines. Without that, US Airways Group Inc. would have lost $22 million, or 13 cents per share.
That's a smaller loss than the 25 cents per share expected by analysts surveyed by FactSet.
Revenue rose 10 percent to $3.27 billion, topping analysts estimate.
Per-seat passenger revenue rose 8.2 percent. US Airways — like other airlines — has raised fares to offset high fuel costs.
