C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Connecting the Carolinas to the World

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

2010 IATA Eagle Award

“Charlotte Douglas has the winning combination: low costs, low debt, and solid service levels. The strong financial and operational model at Charlotte Douglas works well for airlines, passengers, and the airport. There can be no greater accolade than the continued support from its major airline customers through this Eagle Award.” (Giovanni) Bisignani, (Director General and CEO, IATA)

• The International Air Transport Association (IATA) singled out CLT’s achievements with the prestigious Eagle Award in June 2010

• Recognizes outstanding performance in customer satisfaction, cost efficiency and continuous improvement

• CLT joins exclusive group of only five U.S. airports to receive award

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Airport Mission

“Charlotte Douglas International will be the preferred airport and airlinehub by providing the highest quality product for the lowest possible cost.”

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Airline Cost Per Enplaned Passenger

$0.00

$4.00

$8.00

$12.00

$16.00

$20.00

$24.00

$28.00CL

T To

tal

CLT

O&D PH

L

PIT

DEN-

UA

DEN-

No U

A

ATL

ORD LA

X

DFW

SFO

MIA

STL

FLL

TPA

DTW

CVG

CLE

IND

DAL

CMH

ABQ

PBI

RSW

ANC

SDF

Group Median

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

5

CLT Enplanements

0

2

4

6

8

10

12

14

16

18

20

Mill

ions

of P

asse

nger

s En

plan

ed

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Airport Fast Facts• 2nd Largest Airport on Eastern Seaboard

• 677 Daily Departures (February 2011)

• Non-stop service to 134 destinations; 33 int’l

• Over 18,000 Employees

• 529,101 aircraft operations in 2010

• 38,254,207 passengers in 2010;

10.7% increase over 2009

• Nationwide Rankings 2010:• 7th in Movements/Operations• 11th in Passengers

• Worldwide Rankings 2010:• 7th in Movements/Operations• 25th in Passengers

* Rankings for 2010 based on preliminary data

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

US Airways CLT Direct Routes

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Southwest RDU Direct Routes

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

• The role of Airline Alliances

• Extensive Capacity Reductions

• Future Fleet Demand

Industry TrendsEmerging Hub Trends in the U.S.

“Hub access is the name of the game…”

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Emerging Hub Trends in the U.S.

The Role of the Alliance

• Passengers have access to worldwide destinations through airline partners in the alliance

• Allows airlines to funnel passengers through hubs rather than extensive point-to-point international destinations

• Allows airlines to sell additional tickets by routing passengers through the alliance network

• Reduces redundancy of routes by multiple carriers

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Capacity Reductions

• Airlines taking control of their fate through capacity rather than pricing

• Volatility of fuel costs

• Effective in reducing costs

• Seat capacity system-wide fell 9% in 2009; forecasted to fall another 10% in 2010

• Focus on more hub activity rather than point-to-point service

• Capacity cuts include:

• Older aircraft with high maintenance costs

• 50 and 70 seat aircraft

Emerging Hub Trends in the U.S.

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Much higher demand for replacement aircraft than new aircraft over next 18-20 yrs

Emerging Hub Trends in the U.S.Fleet Demand in North America

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Emerging Hub Trends in the U.S.What does this mean to CLT?

• Airlines will continue to focus on hub airports as they look for ways to return to profitability

• Airports must focus on the metrics that make an attractive hub for the airlines

• Geographic location

• Expansion Capabilities

• Financial Structure

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

The Economic Development Platform• Generates nearly $10 billion in annual economic impact• 100,000 jobs are directly or indirectly supported by the Airport

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

The Economic Development Platform

15

117

4,000

10,000

0

2,000

4,000

6,000

8,000

10,000

12,000

1976

1978

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

Mill

ions

Economic Impact

1,342

71,392

100,716

0

20,000

40,000

60,000

80,000

100,000

120,000

1976

1978

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

Employment

Total Economic Impact1976 - $117,000,0001996 - $4,000,000,0002004 - $10,000,000,000

Employment 1976 - 1,342 jobs1996 - 71,392 jobs2004 - 100,716 jobs

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Expansion Plans

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Planned New Intermodal Facility

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Intermodal Train Facility

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Global Movement of Goods

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Existing Intermodal Facility

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

West Blvd/I-485 Interchange

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Environmental

Intermodal trains produce about one third as much CO2 per ton-mile as trucks

C H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R TC H A R L O T T E D O U G L A S I N T E R N A T I O N A L A I R P O R T

Connecting the Carolinas to the World

Charlotte Chamber of Commerce

Transportation Summit 2011

April 8, 2011

4Q10 / 2010 Highlights

• 2010 profit of $447M* - second highest profit in Company history

• 4Q10 profit of $28M - first 4Q profit since 2006• $2.3B in total cash, $364M restricted• Accrued $47M in profit sharing for 2010• 4Q unit costs* down 1.7% on 4.2% increase in flying• Outstanding operational performance - $24M in

operational incentive payouts• A la carte baggage fees generated $483M in 2010, up

$81M vs. 2009

* Excludes special items

US Airways - 4th Largest Major Network Airline

4Q10 YTD System Capacity

175.7

124.2

64.873.6

26.2 21.0 18.2

190.7*

0.0

50.0

100.0

150.0

200.0

250.0

Tota

l ASM

s (B

il)

Major Network Airlines

Low Cost/Other

* Pro forma (United + Continental)

Capacity Discipline

Source: SEC filings and company reports

(13.1%)(14.4%)

8.0%

(20.0%)

(15.0%)

(10.0%)

(5.0%)

-

5.0%

10.0%

Legacy US LCC3Q 2010 YOYCapacity Change

Domestic ASM Changes(2010 vs. 2006)

• Since 2006 US has removed significant domestic capacity• And that trend continued into 2010

3Q10 YTD Change in Total ASMs (YOY)

6.7%

4.1% 3.8%

1.1%0.5% 0.2% 0.1%

-0.2%

-1.1%-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

2011 EstimatedSystem Capacity Growth*

7.8% 7.3%

4.9%3.3%

2.0%0.5%0.8%

Ind. Avg = 2.3%

0.0%

4.0%

8.0%

12.0%

Industry Capacity Outlook

• Industry capacity* growth between 2 and 3 percent in 2011• US Airways’ system capacity growth of approximately 2 percent • Domestic capacity growth not expected to exceed GDP growth

* J.P. Morgan industry estimates, Feb. 2011. US Airways capacity growth based on company guidance

Seismic Changes in Industry Landscape

• New a la carte revenue streams– Baggage fees– Choice seating– In-flight charges

A la Carte Revenue

• Recent Initiatives:– GoGo® Inflight WiFi– Choice Seats– Online bag pre-pay– Premium snacks and beverages– Power-Nap Sack

• Generated more than $500M in revenue in 2010

A La Carte Revenue($ mil)

$165

$514 $425

2008 2009 2010Bag Fees Other A La Carte

Focused Operational Performance Improvements

2007 2008 2009 2010

Delta Northwest US Airways US Airways

Northwest US Airways United United

Continental Delta Northwest American

United American Delta Delta

American United American Continental

US Airways Continental Continental

2007 2008 2009 2010

Delta US Airways United United

Continental Northwest US Airways US Airways

United Delta Northwest Continental

Northwest Continental Continental American

American United Delta Delta

US Airways American American

2007 2008 2009 2010

Northwest Northwest Northwest US Airways

Continental Continental Continental Continental

United US Airways US Airways Delta

American United United United

Delta American American American

US Airways Delta Delta

2007 2008 2009 2010

Continental Northwest Continental American

Northwest Continental American Continental

American American Northwest US Airways

Delta Delta US Airways United

United United United Delta

US Airways US Airways Delta

Mishandled Bags Customer Complaints

Note: Figures are through December 2010. Source: U.S. Department of Transportation

On-time Departure Numbers On-time Arrival Numbers

Focused on:

•Started boarding early

•Invested in ticket scanners

•Closing door early

•Invested in baggage scanners

•Added block time

•Invested in GSE in key cities

•Reviewed daily and adjusted

2010 Stage Adjusted CASM(excluding fuel and special items)

9.58¢

8.37¢

Network US

US Positioning vs. Other Legacy Carriers

15% Advantage

Stage Adjusted to US Airways YTD average stage length of 981 miles;

Network includes new United, American, Delta; Low Cost includes AirTran, JetBlue, and Southwest

2010 Stage Adjusted PRASM

13.77¢

12.20¢

Network US

13% Disadvantage

US Airways System Facts

2008 2009 2010

Jet Fuel/Gal $3.18 1.76 2.25

Employees 34,000 32,381 31,367

Destinations 230 210 201

Daily Flights 3,700 3,256 3,200

US Purchased 1.4 Billion Gallons of Fuel in 2010

A $1 Increase in a Barrel of Oil Costs US $35 million per Year

3.30

4-05

Charlotte Facts

4Q08 4Q09 4Q10Daily Flights 550 575 624

Employees 5,955 6,030 6,637

Nonstop Destinations 121 126 133

Domestic 104 102 106

International 17 24 27London Paris/Rio RomeFrankfurt

Extensive Caribbean Network

Madrid and Dublin in MaySao Paulo in November

Cities* with Hubs (Population)

1. NYC 19.12. Los Angeles 12.83. Chicago 9.64. Dallas 6.45. Philadelphia 6.06. Houston 5.97. Miami 5.58. Washington 5.59. Atlanta 5.510. Detroit 4.4

11. Phoenix 4.412. San Francisco 4.513. Seattle 3.414. Minneapolis 3.315. Denver 2.616. Cleveland 2.117. Cincinnati 2.218. Charlotte 1.719. Milwaukee 1.620. Memphis 1.321. Salt Lake City 1.1

*1,000,000 people

What Do These Cities Have in Common

• Baltimore• Pittsburgh• Portland• Kansas City• Las Vegas• San Jose• Columbus• St. Louis

All Larger in Population than

Charlotte

Former Hubs

New Envoy Suite

Announcements/Statements

• Introduced electronic boarding passes in Las Vegas, and Charlotte

• Adding MAD and DUB in May• Adding Sao Paulo in November• Hiring 500 (recall of furloughed employees)

and up to 200 for WS Call Center• Adding F/C to Express Fleet• Ranked #1 in Wichita State/Purdue AQR

The Industry Environment

• Looking Ahead– 2011 industry capacity anticipated to be up

approximately 2.5%– Industry in early rebound stages with robust business

travel and recovering leisure travel– Wall Street very concerned about volatile fuel prices,

pace of economic recovery, and high unemployment

vWild Card--- Middle East Unrest

Summary

• US Airways is well positioned and is outperforming relative to the industry:– Top tier operational performance– Reduced capacity– Aggressive cost management – Industry leading financial performance and margin improvement

• US Airways will continue to look for ways to:– Enhance the product and optimize assets– Invest and build upon our safety culture

• We Continue to Invest in Charlotte

106.8%

84.5%

64.0%

41.6%

21.3%13.6% 12.8% 10.7%

0.8%0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

120.0%

Stock Price Performance

2010 Relative Return

$4.84 to $10.01

Questions?