US airlines battling stiff headwinds from high fuel prices

0 Comments | AFP, July, 2008

WASHINGTON (AFP) — The top US airlines have posted heavy losses in the current earnings season as spiraling fuel prices have forced them to cut flights, fleets and staff, as well as raise fares and add fees.

The outlook for 2009 appears equally overcast for the major carriers, most of them recently emerged from the bankruptcy protection they sought after the September 11, 2001 terrorist attacks that decimated air travel.

United Airlines, the second-largest US airline, was the hardest hit in the second quarter, reporting a 2.7 billion dollar loss.

Market leader American Airlines lost 1.4 billion dollars, Delta Air Lines dropped 1.04 billion dollars, US Airways shed 567 million and Northwest Airlines 377 million. The least scathed was Continental Airlines,...