Exhibit 99.1

Contact: Dan Cravens

480-693-5729

FOR IMMEDIATE RELEASE

US AIRWAYS REPORTS THIRD QUARTER RESULTS

Highest Third Quarter Earnings in Company History; Second Highest Excluding Special Items

Highlights of US Airways Group, Inc.’s (the Company) third quarter 2012 results:

TEMPE, Ariz., Oct. 24, 2012 — US Airways Group, Inc. (NYSE: LCC) today reported its third quarter 2012 financial results. For the third quarter 2012, the Company reported a net profit excluding special items of $192 million, or $0.98 per diluted share, the second highest third quarter profit excluding special items in Company history. This compares to $95 million, or $0.51 per diluted share in the Company’s third quarter 2011. On a GAAP basis, the Company reported a record net profit of $245 million for its third quarter 2012, or $1.24 per diluted share, compared to a net profit of $76 million, or $0.41 per diluted share, for the same period in 2011.

See the accompanying notes in the Financial Tables section of this press release for a reconciliation of GAAP financial information to non-GAAP financial information.

US Airways Group, Inc. Chairman and CEO Doug Parker stated, “The 32,000 hard-working people of US Airways are doing a phenomenal job. We are setting Company records in all the operational metrics that matter to our customers, including completion factor, on-time arrivals and baggage handling. This record operating reliability is driving strong customer demand and keeping costs in check, resulting in outstanding financial performance.

“Looking forward, the revenue environment remains strong. As evidenced by these outstanding financial and operational results, US Airways is extremely well-positioned for the remainder of 2012 and beyond,” concluded Parker.

Revenue and Cost Comparisons

Strong passenger demand and record consolidated third quarter yields led to improved revenue performance. Total revenues in the third quarter were a record $3.5 billion, up 2.8 percent versus the third quarter 2011 on a 2.7 percent increase in total available seat miles (ASMs). Total revenue per ASM was a record 15.22 cents, up 0.1 percent versus the same period last year, driven by a 0.6 percent increase in passenger yields.

Total operating expenses in the third quarter were $3.3 billion, up 0.3 percent over the same period last year. Mainline cost per available seat mile (CASM) was 12.70 cents, down 1.8 percent on a 2.8 percent increase in mainline ASMs. Total average fuel price per gallon fell 2.4 percent versus last year to $3.07 per gallon. Excluding special charges, fuel, and profit sharing mainline CASM was 7.95 cents, down 1.4 percent versus the same period last year. Express CASM excluding special charges and fuel was 13.97 cents, down 4.5 percent on a 2.4 percent increase in Express ASMs.

Liquidity

As of September 30, 2012, the Company had $2.8 billion in total cash and investments, of which $347 million was restricted. That is up from $2.4 billion, of which $384 million was restricted, on September 30, 2011.

Special Items

The Company recognized $14 million of net operating special charges in the third quarter of 2012, primarily consisting of charges related to corporate transaction and auction rate securities arbitration costs. In addition, the Company recorded $67 million of net nonoperating special credits which included a $69 million gain related to the slot transaction with Delta Air Lines, Inc.

Notable Accomplishments

Operational Achievements

Marketing and Customer Enhancements

Corporate Citizenship

Analyst Conference Call/Webcast Details

US Airways will conduct a live audio webcast of its earnings call today at 12:30 p.m. ET, which will be available to the public on a listen-only basis at www.usairways.com under the Company Info >>Investor Relations tab. An archive of the call/webcast will be available in the Investor Relations portion of the website through Nov. 24.

2012 Investor Guidance

The Company will also update its investor relations guidance on its website (www.usairways.com) immediately following its 12:30 p.m. ET conference call. The Company typically provides guidance related to cost per available seat mile (CASM) excluding special charges, fuel and profit sharing, fuel prices, other revenues and estimated interest expense/income on its investor relations update page on its website. This update will also include the airline’s capacity, fleet plan and estimated capital spending for the remainder of 2012.

About US Airways

US Airways, along with US Airways Shuttle and US Airways Express, operates more than 3,000 flights per day and serves 195 communities in the U.S., Canada, Mexico, Europe, the Middle East, the Caribbean, Central and South America. The airline employs more than 32,000 aviation professionals worldwide, operates the world’s largest fleet of Airbus aircraft and is a member of the Star Alliance network, which offers its customers more than 21,500 daily flights to 1,356 airports in 193 countries. Together with its US Airways Express partners, the airline serves approximately 80 million passengers each year and operates hubs in Charlotte, N.C., Philadelphia and Phoenix, and a focus city in Washington, D.C. at Ronald Reagan Washington National Airport. Aviation Week and Overhaul & Maintenance magazine presented US Airways with the 2012 Aviation Maintenance, Repair and Overhaul (MRO) of the Year Award for demonstrating outstanding achievement and innovation in the area of technical operations. Military Times Edge magazine named US Airways as a Best of Vets employer in 2011 and 2012. US Airways was, for the third year in a row, the only airline included as one of the 50 best companies to work for in the U.S. by LATINA Style magazine’s 50 Report. The airline also earned a 100 percent rating on the Human Rights Campaign Corporate Equality index for six consecutive years. The Corporate Equality index is a leading indicator of companies’ attitudes and policies toward lesbian, gay, bisexual and transgender employees and customers. For more company information visit usairways.com, follow on Twitter @USAirways or at Facebook.com/USAirways. (LCCF)

Forward Looking Statements

Certain of the statements contained or referred to herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” “would,” “continue” and similar terms used in connection with statements regarding, among others, the outlook, expected fuel costs, revenue and pricing environment, and expected financial performance and liquidity position of the Company. Such statements include, but are not limited to, statements about future financial and operating results, the Company’s plans, objectives, expectations and intentions, and 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 significant risks and uncertainties that could cause the Company’s actual results and financial position to differ materially from these statements. Such risks and uncertainties include, but are not limited to, the following: the impact of significant operating losses in the future; downturns in economic conditions and their impact on passenger demand, booking practices and related revenues; the impact of the price and availability of fuel and significant disruptions in the supply of aircraft fuel; competitive practices in the industry, including the impact of industry consolidation; increased costs of financing, a reduction in the availability of financing and fluctuations in interest rates; the Company’s high level of fixed obligations and ability to fund general corporate requirements, obtain additional financing and respond to competitive developments; any failure to comply with the liquidity covenants contained in financing arrangements; provisions in credit card processing and other commercial agreements that may affect the Company’s liquidity; the impact of union disputes, employee strikes and other labor-related disruptions; the inability to maintain labor costs at competitive levels; interruptions or disruptions in service at one or more of the Company’s hub airports or focus city; regulatory changes affecting the allocation of slots; the Company’s reliance on third-party regional operators or third-party service providers; the Company’s reliance on and costs, rights and functionality of third-party distribution channels, including those provided by global distribution systems, conventional travel agents and online travel agents; changes in government regulation; the impact of changes to the Company’s business model the loss of key personnel or inability to attract and retain qualified personnel; the impact of conflicts overseas or terrorist attacks, and the impact of ongoing security concerns; the Company’s ability to operate and grow its route network; the impact of environmental regulation; the Company’s reliance on technology and automated systems and the impact of any failure or disruption of, or delay in, these technologies or systems; costs of ongoing data security compliance requirements and the impact of any significant data security breach; the impact of any accident involving the Company’s aircraft or the aircraft of its regional operators; delays in scheduled aircraft deliveries or other loss of anticipated fleet capacity; the Company’s dependence on a limited number of suppliers for aircraft, aircraft engines and parts; the Company’s ability to operate profitably out of Philadelphia International Airport; the impact of weather conditions and seasonality of airline travel; the impact of possible future increases in insurance costs or reductions in available insurance coverage; the impact of global events that affect travel behavior, such as an outbreak of a contagious disease; the impact of foreign currency exchange rate fluctuations; the Company’s ability to use NOLs and certain other tax attributes; and other risks and uncertainties listed from time to time in the Company’s reports to and filings with the Securities and Exchange Commission (“SEC”). There may be other factors not identified above of which the Company is not currently aware that may affect matters discussed in the forward-looking statements, and may also cause actual results to differ materially from those discussed. The Company assumes no obligation to publicly update or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting such estimates other than as required by law. Additional factors that may affect the future results of the Company are set forth in the section entitled “Risk Factors” in the Company’s Report on Form 10-Q for the quarter ended September 30, 2012 and in the Company’s other filings with the SEC, which are available at www.usairways.com.

US Airways Group, Inc.

Condensed Consolidated Statements of Operations

(In millions, except share and per share amounts)

(Unaudited)

Note: Percent change may not recalculate due to rounding.

US Airways Group, Inc.

Operating Statistics

Note: Amounts may not recalculate due to rounding.

Reconciliation of GAAP Financial Information to Non-GAAP Financial Information

US Airways Group, Inc. (the “Company”) is providing disclosure of the reconciliation of reported non-GAAP financial measures to their comparable financial measures on a GAAP basis. The Company believes that the non-GAAP financial measures provide investors the ability to measure financial performance excluding special items and profit sharing, which is more indicative of the Company’s ongoing performance and is more comparable to measures reported by other major airlines. The Company believes that the presentation of mainline and express CASM excluding fuel is useful to investors as both the cost and availability of fuel are subject to many economic and political factors beyond the Company’s control. Management uses mainline and express CASM excluding special items, fuel and profit sharing to evaluate the Company’s operating performance.

Reconciliation of GAAP Financial Information to Non-GAAP Financial Information

Note: Amounts may not recalculate due to rounding.

Note: Amounts may not recalculate due to rounding.

Reconciliation of GAAP Financial Information to Non-GAAP Financial Information