America West Airlines: The Phoenix-based airline said...

America West Airlines: The Phoenix-based airline said 1989 profit more than doubled from 1988 to a record $20 million. Revenue rose 28% to $993.4 million. For the fourth quarter, the airline reported profit of $1.15 million, compared to net income of $19.1 million a year earlier. The quarterly figures were affected by a $2.7-million gain in the 1989 period from the sale of certain foreign tax benefits related to the acquisition of aircraft and $16.6 million of extraordinary items resulting from a debenture exchange in the 1988 quarter. The company said increases in fuel prices also affected results.