Doug Parker -- Chairman & CEOUS Airways Group, Inc.

March 13, 2012

History: America West/US Airways

• America West: 1983– Very low costs/low revenue– Aggressive expansion– Bankruptcy 1991-1994– Restructured as low cost, PHX-based, hub-

and-spoke airline

• 9/11– America West nearly liquidates: federal loan– Other airlines decrease labor costs

• US Airways Merger: 2005– Combined two unstable airlines into one

competitive airline

The Airline Business From 30,000 Feet

• Industry continues to benefit from major structural changes – Consolidation– Capacity reductions– A la carte revenues

• Volatile fuel prices are a concern, but strong demand and fare increases have helped mitigate that risk

• US Airways is well positioned for 2012

The Fundamentals Have Changed

Source: J.P. Morgan* Excludes special items

The Industry is Consolidating

Source: SEC Filings and Company Reports.

… and Developing New Revenue Streams …

A la Carte Initiatives:– GoGo® Inflight Wi-Fi– ChoiceSeats– Online bag pre-pay– Premium snacks and beverages– Power-Nap Sack

2011 Results for US Airways

• Strong demand and record yields led to 2nd consecutive annual profit of $111M*

• Outstanding cost control throughout the year− FY CASM* flat on 1.4% increase in ASM

• Strong cash position—$2.3B in total cash, $365M restricted• Operational Leaders

− Best December and 4Q in Company history− 7 total first place finishes in 2011 for on time performance

and baggage handling

*Excludes special items. Please refer to the GAAP to non-GAAP reconciliation in the appendix

2012 Outlook

2012 2013 2014 2015 2016

A320 Family

12 16 18 12 -

A330 - 5 3 - -

Investments in Our Product

The Company has 33 aircraft deliveries scheduled through 2013 with financing commitments secured for all of the narrow-body deliveries through 2013

• $170 million in planned non-aircraft capital expenditures including:

• Envoy Suite on A330 aircraft• Mobile applications• Slot transaction • Facility upgrades• System & technology upgrades• New ground equipment

Investments in Our Product

Investments in Our Hometown

PHX Facts

• 275 Daily Flights• 76 Destinations (11 are international)• 56 Gates at Sky Harbor• Over 9,000 Local Employees• Corporate Headquarters• Call Center• Flight Training Center• Aircraft Maintenance Center

Positive Corporate Citizenship

• Childsplay• Chrysalis• Desert Botanical Garden• Duet: Partners in

Aging/Beatitudes• Epilepsy of Arizona• Fiesta Bowl• Florence Crittenton• Free Arts• Fresh Start• Gabriel's Angels• Habitat for Humanity• Hands of Greater Phoenix• Heard Museum • Homeward Bound• Hospice of Valley• Jobs for Arizona Graduates• Junior Achievement• KAET • Liberty Wildlife• Make a Wish• Mission of Mercy• New Global Citizens• O'Connor House• Packages from Home• Phoenix Art Museum• Phoenix Children's Hospital• Phoenix Clean Community• Phoenix Suns Charities

• Phoenix Symphony• Phoenix Theatre• Phoenix Zoo• Public Radio Partners (KJZZ, NPR,

KBAQ)• Recording for the Blind & Dyslexic• Rosie's House• Ryan House• Salvation Army• Scottsdale Healthcare• Southwest Center HIV/AIDS• St.. Josephs the Worker• St. Mary's Food Bank• The 100 Club• Thunderbirds/ Waste Not• Treasures for Teachers• UMOM• United Food Bank• Valley Leadership• Valley of the Sun United Way • Veterans Medical Leadership• Wellness Community • Youth At Risk

• ACCEL• Aguila Youth Leadership• American Cancer Society• American Heart Association• American Red Cross• Anti-Defamation League• Arizona Diamondbacks

Foundation• Arizona Educational Foundation• Arizona Humane Society• Arizona Opera• Arizona Science Center• Arizona Technology Council

SciTech Festival• Arizona Theatre Company• Arizona Women's Board/Kidney

Foundation• Arts & Business Council of

Greater Phoenix• Asian American Assoc. • ASU Gammage• Audubon Arizona• Ballet Arizona• Barrow Neurological• Big Brothers Big Sisters• Black Theatre Troup• Boys & Girls Clubs• Challenger Space Center of

Arizona• Childhelp• Children’s Museum of Phoenix

Conclusion

• The history of US Airways in Phoenix is a remarkable story

• Our people have shown an amazing ability to respond and thrive in an evolving and turbulent environment

• We now have a strong, competitive airline that is well positioned for long-term success

Questions?