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US Airways Annual Report 2005 Report Annual Airways US US Airways Group, Inc. ANNUAL REPORT 2005 US Airways Group, Inc. NYSE: LCC www.usairways.com TABLE OF CONTENTS US Airways CORPORATE DATA Selected Consolidated Financial Data..........................2 CORPORATE HEADQUARTERS Exchange corporate governance listing standards Chairman’s Message to Shareholders..........................4 US Airways Group, Inc. within 30 days after the 2006 Annual Meeting of 111 West Rio Salado Parkway Shareholders. Board of Directors.........................................................8 Tempe, Arizona 85281 480-693-0800 INTERNET HOME PAGE Corporate Offi cers.........................................................9 General information on US Airways Group, Inc., STOCK EXCHANGE LISTING is available on the Internet at www.usairways. Annual Report on Form 10-K for the year ended The common stock of US Airways Group, Inc. is com. This Web site allows visitors to book flights, traded on the New York Stock Exchange under enroll in Dividend Miles, or take advantage of Dec. 31, 2005..............................................................11 the ticker symbol “LCC”. special offers from US Airways and US Airways Vacations. An investor relations section features Corporate Data....................................Inside back cover STOCK TRANSFER AGENT AND REGISTRAR numerous financial documents, press releases, Computershare Investor Services, LLC the Company’s Annual Report and stock price 2 North La Salle Street information. Chicago, Illinois 60602 US Airways merged with America West on Sept. 27, 2005 to become the fi fth largest 800-926-5864 FLIGHT INFORMATION To book a flight on US Airways, visit www.usair- domestic airline employing 35,000 aviation professionals. US Airways, US Airways INDEPENDENT ACCOUNTANTS ways.com, contact your travel agent, or call 800- Shuttle and US Airways Express operate approximately 3,800 fl ights per day and serve KPMG LLP 327-7810 One Arizona Center more than 230 communities in the U.S., Canada, Europe, the Caribbean and Latin 400 East Van Buren Street, Suite 1100 VACATION PACKAGES Phoenix, AZ 85004 To book a vacation package through US Airways America. US Airways is a member of the Star Alliance, the fi rst global airline alliance Vacations, visit www.usairwaysvacations.com, or to offer customers worldwide reach. COMPANY COUNSEL contact your local travel agent, or call 800-327- McKenna Long & Aldridge LLP 7810. 303 Peachtree Street, NE, Suite 5300 Atlanta, GA 30308 INVESTOR RELATIONS Financial publications, including additional copies STOCKHOLDERS of the Company’s Annual Report, Form 10-K, and The approximate number of holders of record Proxy Statement, are all available without charge of US Airways Group, Inc. common stock as of by contacting: March 29, 2006 was 2,755. MANAGER, INVESTOR RELATIONS ANNUAL MEETING US Airways Group, Inc. The Annual meeting of shareholders will be held 111 West Rio Salado Parkway on Wednesday, May 17, 2006 at 09:30 a.m. Tempe, AZ 85281 local time at the Charlotte Convention Center, 480-693-1227 501 S. College Street, Charlotte, NC, 28202. [email protected] NEW YORK STOCK EXCHANGE A copy of the Company’s Form 10-K filed with CERTIFICATION the Securities and Exchange Commission, which The common stock of US Airways Group, Inc. includes as exhibits the certifications of the Chief commenced trading on the New York Stock Executive Officer and Chief Financial Officer Exchange on September 27, 2005, and our Chief required pursuant to Section 302 of the Sarbanes- Executive Officer will file his annual certifica- Oxley Act, is included in this Annual Report. tion regarding compliance with New York Stock US Airways Group, Inc. www.usairways.com US Airways FORWARD LOOKING STATEMENTS Certain of the statements contained herein should be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements may be identifi ed by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “could,” “should,” “continue” and similar terms. Such statements include, but are not limited to, statements about the outlook of US Airways Group, Inc. (the “Company”), expected fuel costs, the revenue and pric- ing environment, expected fi nancial performance, and the benefi ts of the business combination transac- tion involving America West Holdings Corporation and US Airways Group, including future fi nancial and operating results, the combined companies’ plans, objectives, expectations and intentions, as well as other statements that are not historical facts. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to signifi cant risks and uncertainties that could cause the Company’s actual results and fi nancial position to diff er materially from these statements. These risks and additional factors that may aff ect the future results of the Company are set forth in detail in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2005 and in the fi lings of the Company with the SEC, which are available at www.usairways. com. The Company assumes no obligation to publicly update any forward-looking statement to refl ect actual results, changes in assumptions or changes in other factors aff ecting such estimates other than as required by law. 10 1 US Airways Group, Inc. www.usairways.com US Airways US Airways SELECTED CONSOLIDATED FINANCIAL DATA SELECTED CONSOLIDATED FINANCIAL DATA (CONT’D) The selected consolidated fi nancial data presented below under the captions “Consolidated Statements of Operations Data” and “Con- (a) Certain prior year amounts have been reclassifi ed to conform The 2002 period includes $19 million of charges primarily related to solidated Balance Sheet Data” as of and for the years ended December 31, 2005, 2004, 2003, 2002 and 2001 are derived from the audited with the 2005 presentation. These reclassifi cations include reclassing: the restructuring completed on January 18, 2002, resulting from the consolidated fi nancial statements of US Airways Group. The selected consolidated fi nancial data should be read in conjunction with the fuel hedging activities from nonoperating to operating expenses, events of September 11, 2001. consolidated fi nancial statements for the respective periods, the related notes and the related reports of US Airways Group’s independent fuel-related tax expenses from other expenses to aircraft fuel and registered public accounting fi rms. related taxes expense and the sale of frequent fl ier miles and related The 2001 period includes $142 million of special charges related to the marketing services to affi nity partners from other operating expense impairment of reorganization value in excess of amounts allocable to Year Ended December 31, to mainline passenger and other revenue. The portion of the affi n- identifi able assets (“ERV”) and owned aircraft and engines, as well as ity partner revenue related to passenger ticket sales is classifi ed as the earlier-than-planned return of seven leased aircraft and severance 2005 2004 2003 2002 2001 mainline passenger revenue and the marketing portion of the affi nity expenses following a reduction-in-force in 2001. See Note 7, “Special partner revenue is classifi ed as other revenue. Charges” in US Airways Group’s notes to consolidated fi nancial state- (in millions except per share amounts) ments included in Item 8A of this report. The Company reclassifi ed amounts related to settled fuel hedge trans- Consolidated statements of operations data: actions and mark-to-market adjustments on open hedge instruments (b) Nonoperating income (expense) in the 2005 period includes an Operating revenues (a) from nonoperating income (expense) to operating. The amounts for $8 million charge related to the write-off of the unamortized value $5,077 $2,748 $2,572 $2,337 $2,296 the years ended December 31, 2005, 2004 and 2003 reduced operating of the ATSB warrants upon their repurchase in October 2005 and an Operating expenses (a) 5,294 2,768 2,539 2,497 2,714 expenses by $75 million, $24 million and $11 million, respectively. For aggregate $2 million write-off of debt issue costs associated with Operating income (loss) (a) (217) (20) 33 (160) (418) the years ended December 31, 2002 and 2001, the amounts increased the exchange of the 7.25% Senior Exchangeable Notes due 2023 and Income (loss) before cumulative eff ect of operating expenses by $1 million and $7 million, respectively. retirement of a portion of the loan formerly guaranteed by the ATSB. In the fourth quarter 2005 period, US Airways recorded $4 million of change in accounting principle (b) (335) (89) 57 (180) (250) The sale of frequent fl ier miles and related marketing services to af- derivative gain attributable to stock options in Sabre, and warrants in a Cumulative eff ect of accounting change (c) 202 — — 208 — fi nity partners were reclassed from operating expenses to operating number of e-commerce companies. Net income (loss) (537) (89) 57 (388) (250) revenues. The amounts for the years ended December 31, 2005, 2004, 2003, 2002 and 2001 were $20 million, $38 million, $32 million, $29 The 2004 period includes a $1 million gain at AWA on the disposition Earnings (loss) per share before cumulative million and $24 million. of property and equipment due principally to the sale of one Boeing 737-200 aircraft and a $1 million charge for the write-off of debt issue eff ect of change in accounting principle AWA Express expenses were reclassed from operating revenues to op- costs in connection with the refi nancing of the term loan. Basic (10.65) (5.99) 4.03 (12.92) (17.99) erating expenses. See also Part II, Item 8A, Note 5 “Change in Method Diluted (10.65) (5.99) 3.07 (12.92) (17.99) of Reporting for America West Express Results and Other Reclassifi ca- The 2003 period includes federal government assistance of $81 million tions” in the Form 10-K included in this Annual Report.
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