(2003-05-06) — US Airways performed an odd feat for its industry in the first quarter — it made a profit. The $1.63 billion profit came in the midst of bankruptcy restructuring.
“We’ve finally done what has eluded us, and many other airlines, for so long,” said a U.S. Airways spokesman. “We attribute the gain to visionary leadership. After all, it was our executives who decided we would declare bankruptcy, and terminate our pilots’ pension plan. I only marvel that we didn’t do this sooner.”
The spokesman said the company’s success proves that there are now two models for profitability in the industry. The “Southwest model” calls for low fares, reliable cost-structure and fun customer service. The US Airways model entails simply refusing to pay people to whom you owe money.
“Either way is a recipe for success,” he added. “We chose the road more traveled, and that has made all the difference.”

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