Airlines expected to lose $4 billion
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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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The airline narrowed its fourth-quarter loss to $8 million, beating Wall Streetâs forecasts despite higher fuel costs.
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The International Air Transport Association is forecasting &quot;significantly&quot; narrower losses for the global airline industry this year as reduced costs and rising demand for air travel help counter higher fuel prices.
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International airlines are heading for a near USD$5 billion loss this year, largely due to the rise in oil prices, the industry&#39;s global body said on Tuesday.
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Geneva - The world&#39;s major airlines were expected to rack up about $4.8 billion (R27.3 billion) in losses this year and would climb back to profit next year only if oil prices fell, the top industry body said yesterday.
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Delta Air Lines said today that it expected to lose as much as $675 million for the third quarter.
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AMR, the parent of American Airlines, posted a smaller-than-expected fourth-quarter loss on Wednesday, but the results showed the industryâs continuing vulnerability to high fuel costs.
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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
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SAN FRANCISCO (CBS.MW) - Higher fuel prices will help cause the domestic and international airline industry to lose $3 billion to $4 billion in 2004, the International Air Transport Association forecast Monday.
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American Airlines might change the way it sets fares and restore more aircraft seats that were removed to increase leg room, as the world&#39;s largest carrier tries to stem losses.
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Continental Airlines Inc. expects to  take $19 million in fourth-quarter charges for future lease  payments and return conditions for aircraft retirements, the  No. 5 U.S. airline said in a filing on Friday.
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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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The airline reported a narrower-than-expected loss in the fourth quarter and its first full-year profit in three years as an increase in traffic helped compensate for rising fuel costs.
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Business & money: Budget airline warns that profits could fall by up to 50% next year on the back of high oil prices
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Continental Airlines Inc., the nation's fifth biggest carrier, reported a $206 million loss for the fourth quarter, citing continued high fuel costs, fare erosion from competitive pressures and what it called excessive government taxes and fees.
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International airlines are heading for a near &#36;5 billion loss this year, largely due to the oil price rise, the chief economist of the industry's global body IATA said on Tuesday.
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The global airlines body IATA said on Tuesday the industry was heading for a near $5 billion deficit on international operations this year, pushing its total losses since 2001 to a massive $35 billion.