U.S. Airways (NYSE:LCC) said revenue passenger miles, a key profitability metric for airlines, increased 3.4% in November.
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The Tempe, Ariz.-based carrier, which has been cutting back on less profitable routes in an effort to chop away at explosive fuel costs, said mainline revenue passenger miles crept higher, while capacity fell 0.6%.
The company’s stock has fallen 52% so far this year as it has struggled against competitors like Delta (NYSE:DAL) and UnitedContinental (NYSE:UAL), as well as softer demand, new regulations and skyrocketing oil costs.
An 8.4% increase in revenue passenger miles for its Atlantic routes helped to offset a nearly 4% decline in its Latin segment, partially due to decreased capacity.
Still, the company revealed a record passenger load factor of 83.8%, which is up 3.2% over last year, and said total passenger revenue per available seat mile grew 13% from the same period in 2010, when combining both mainline and express routes.