News

US Airline Industry Continues Financial Tailspin

High fuel costs and tough competition continue to take a toll on the airline industry as some U.S.- based carriers are reporting huge losses.

On Thursday, Delta Airlines said it lost $2.2 billion in the last three months of 2004, and was more than $5 billion in the red for the whole year.

Delta is the third-largest airline in the United States, while rival Continental ranks fifth. Continental posted a $206 million loss for the fourth quarter.

Earlier this week, top-ranked American Airlines reported losses of $387 million, while fourth-ranked Northwest lost $412 million.

Airline executives vowed to continue slashing wages and other costs in an effort to return to profitability.

Some information for this report provided by AP and Reuters.

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Story

A banner advertising 'The Interview' appears outside Arclight Cinemas in Los Angeles' Hollywood section, Dec. 17, 2014.

Video US: Sony Cyberattack is ‘Serious’ National Security Matter

Government continues investigation into hacking and leaks of sensitive material More