Airlines may incur US$5bil loss this year
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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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Delta Air Lines, which is struggling to avoid a bankruptcy filing, said yesterday that it expected to lose as much as $675 million for the third quarter and that it was using cash at a steep rate.
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US airline Continental warns it could run out of money if it fails to save $500m in wage costs by the end of February.
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US Airways faces a serious risk of going out of business, according to some leading airline analysts, despite claims by the CEO of the nation&#39;s No.
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Early estimates of China Aviation Oil (Singapore)&#39;s gross liabilities suggest the crippled jet fuel supplier could face debts of US$450-500 million, said a report in Singapore&#39;s Business Times on Tuesday.
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Independence Air&#39;s parent company reported a big loss yesterday, and industry analysts say the Northern Virginia airline could file for bankruptcy by January.
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Major U.S. airlines, facing intense  competition from low-cost carriers within the United States,  are shifting their focus to international routes as they search  for ways to drum up profits.
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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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AMR Corp., parent of American Airlines -- the biggest air carrier in the United States, reportedon Wednesday a big loss of 214 million US dollars in the third quarter of this year and warned of worse scenarios ahead.
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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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Most of the largest U.S. airlines are  likely to post fourth-quarter losses, possibly signaling the  end of an industry recovery that began in 2006 and further  building a case for mergers.
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U.S. airlines, after a Christmas  weekend that snarled thousands of travelers' holiday plans,  will face a government review of whether they are living up to  customer service commitments made five years ago, the U.S.  Transportation Department's top auditor said on Monday.
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MONTREAL -- Despite a jump of 19 per cent in world air traffic so far this year, airlines are expected to lose as much as $4 billion US in 2004 due to high fuel costs, says the International Air Transport Association.
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SINGAPORE (Dow Jones)--Singapore will wait for multiple investigations into China Aviation Oil Singapore Ltd.&#39;s (c47.SG) US$550 million trading losses before deciding whether to further tighten regulations, the central bank said Thursday.
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UNDATED This year brought more evidence of how the US airline industry has turned upside down. The once-mighty hub-and-spoke carriers continue to lose money while low-cost operators remain profitable and drive more change.
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US Airways probably will need more cost cuts or a boost in revenue to attract the USD$250 million in equity it says it needs to leave bankruptcy next year, the company said on Thursday.
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MONTREAL -- Despite a jump of 19% in world air traffic so far this year, airlines are expected to lose as much as $4 billion US in 2004 due to high fuel costs, says the International Air Transport Association.