Airlines headed for $US5b loss this year
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GENEVA: International airlines are heading for a near $US5 billion ($NZ7.12 billion) loss this year, largely due to a rise in oil prices, the industry&#39;s global body said on Tuesday.
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US Airways lost the financing for nearly 100 regional jets that were to be a key part of the bankrupt airline&#39;s restructuring plan, The Washington Post reported on Saturday.
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SAN FRANCISCO (CBS.MW) -- US airlines, hammered by soaring oil prices, will spend a staggering $5 billion more on fuel this year than they did in 2003 or even a greater sum, draining already thin cash reserves.
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UAL Corp. posted a third-quarter net loss of $274 million, becoming the latest carrier to fall victim to high fuel prices and depressed airfares in what is usually a strong period for the industry.
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Record fuel costs and low air fares contributed to a $274 million third-quarter loss for United Airlines&#39; parent company, which warned again that labor costs must be slashed again soon in order for it to emerge from bankruptcy.
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GENEVA: International airlines are heading for a near US$5bil loss this year, largely due to the rise in oil prices, the industryâs global body said on Tuesday.
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U.S. Airways lost the financing for  nearly 100 regional jets that were to be a key part of the  bankrupt airline's restructuring plan, The Washington Post  reported on Saturday.
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The global airline industry is forecast to have made net losses of $4.8bn this year, as the rise in the oil price has overwhelmed efforts by carriers to cut costs.
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MONTREAL - Despite a jump of 19 percent in world air traffic this year, airlines are expected to lose as much as $4 billion in 2004 because of high fuel costs, the International Air Transport Association said Monday.
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US airline JetBlue warns recent flight cancellations and high fuel prices will lead to widening losses.
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TEMPE, Ariz.  â The US Airways Group said Thursday that it had swung to a fourth-quarter loss as a result of significantly higher fuel costs.
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The Federal Aviation Administration is facing some of the same problems that are driving the airlines to bankruptcy, rising costs and declining income.
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The world&#39;s airline industry is set to rack up losses of almost $5bn (Â£2.6bn, 3.6bn euros) this year, global airline body AITA has forecast.
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United Airlines parent UAL Corp. suffered a loss of $274 million for the third quarter of this year, a smaller hit than it took in the same period of last year, when it lost $367 million.
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MONTREAL: The global airline industry stands to incur losses of between $US3 billion ($NZ4.6 billion) and $US4 billion this year as surging oil prices wipe out any hope of profit created by rising passenger traffic, the International Air Transport
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United Airlines ran a summer quarter net loss of $274 million on an operating loss of $80 million. Revenues were 7 percent higher than summer of last year but jet fuel costs were up 60 percent.
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United Airlines&#39; parent company posted a $274 million third-quarter loss and reiterated its need to slash labor costs. The company said that in the fourth quarter it may not be able to comply with a covenant