U.S. Air Posts Lower Profits


US Airways Group Inc (NYSE:LCC) reported a lower quarterly profit on Wednesday as it recorded a higher provision for income taxes.

The carrier, which faces a U.S. lawsuit challenging its proposed merger with American Airlines parent AMR Corp <AAMRQ.PK>, said net income was $216 million, or $1.04 a share, in the third quarter, compared with $245 million, or $1.24 a share, a year earlier. Adjusted for special items, profit was $1.16 a share in the latest period.

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The Justice Department sued to block the merger in August, saying it would hurt competition and lead to higher ticket prices. A federal trial in the case is set to start November 25.