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USAir Group Inc. said it earned its first third-quarter profit in seven years on record revenue.
The Arlington, Va.-based airline earned net income of $43.1 million, or 35 cents a share, compared to a loss of $180.1 million, or $3.32 per share, a year ago. Revenue rose 6.9% to $1.87 billion from $1.75 billion.
The results outdid Wall Street expectations. USAir was expected to post a loss of 49 cents a share, according to a survey of 12 analysts for Zacks Investment Research.
USAir recently announced it was in talks with UAL Corp., parent of United Airlines, and AMR Corp., which owns American Airlines, about a possible merger or takeover.
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