Airline Industry Seen Losing Up to $4 Bln in 2004
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The global airline industry stands to incur losses of between $3 billion and $4 billion this year as surging oil prices wipe out any hope of profit created by rising passenger traffic, the International Air Transport Association said
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Many airline companies are finding it difficult to make a profit. The International Air Transport Association says it expects the industry to lose up to four thousand million dollars this year.
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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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The global airline industry stands to incur losses of between USD$3 billion and USD$4 billion this year as surging oil prices wipe out any hope of profit created by rising passenger traffic, the International Air Transport Association said on Monday.
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Major airlines turn in a surprising industry performance.
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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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The US airline industry, riddled with excess supply, will see a significant drop in capacity, or far fewer seats, as a result of at least one airline liquidating in the next year, according to AirTran Airways Chief Executive Joe Leonard.
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Northwest Airlines Corp. reported a bigger-than-expected fourth-quarter loss of $420 million on Wednesday, and blamed high fuel costs and fare cuts by competitors.
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The Italian airline Alitalia said its loss before taxes and exceptional items narrowed to 462.42 million euros (600 million dollars) in 2004 from 515.5 million one year earlier and predicted further improvement in 2005.
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US airline JetBlue warns recent flight cancellations and high fuel prices will lead to widening losses.
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Already hit by multiple bankruptcies, consumer displeasure and out-of-control fuel prices, the US airline industry next year faces the prospect of its worst labor unrest in more than a decade.
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Business travel by air is likely to  increase by about 10 percent in 2005 after an initial recovery  in 2004 but the uptick is seen aiding mainly low-cost carriers,  a U.S. industry survey released on Thursday found.
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LONDON (CBS.MW) -- Irish low-fare carrier Ryanair said Tuesday it predicted a &quot;bloodbath&quot; and &quot;airline casualties&quot; this fall, accelerated by record high oil prices, as it revealed its results for the half year.
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The world&#39;s major airlines are expected to rack up about $US4.8 billion ($A6.33 billion) in losses this year and will climb back to profit next year only if oil prices fall, the top industry body warned today.
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North Texas and DFW International Airport will lose $782 million annually when Delta Air Lines pulls out of the airport next year, economists say.
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A sharp drop in oil prices in recent   weeks has been an unexpected boon to the recovering U.S.   airline industry, but some airlines will not see the full   benefit, having locked in prices nearer this summer's peak.
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Continental Airlines, the No. 5 U.S.  carrier, on Thursday posted a fourth-quarter net loss,  reversing a year-ago profit, as skyrocketing fuel prices and  low-fare competition hammered the industry.