US Airways September revenue jumps 6 percent - New York News

US Airways September revenue jumps 6 percent

Updated:

TEMPE, Ariz. (AP) - Tempe-based US Airways Group Inc. said a key measure of revenue jumped 6 percent in September as traffic grew.

The revenue gain was for each seat flown one mile in September compared to the same month last year. That's a key measure in the airline industry because it accounts for changes in the amount of flying the airline did in each period.

JPMorgan analyst Jamie Baker said the September gain was better than expected, and he raised his estimate for US Airways profits for the rest of this year and raised his price target to $29 per share, from $26.

On Thursday its shares rose 9 cents to $19.93 in morning trading, near the top of their 52-week range.

Because it added more flying capacity than passengers, there were a few more empty seats on its planes.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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