Labor issues, weather, fuel prices put major crimp in airlines' profit
Article Abstract:
High fuel prices, flight delays, bad weather and labor problems all contributed to a 50% decline in airlines' net profits in 2000, according to the Air Transport Assn (ATA). The ATA said the US' 48 largest airlines earned $2.7 billion in 2000, slightly less than half of the $5.5 billion they earned in 1999. Airlines spent an additional $5.4 billion on fuel costs alone in 1999. Snow removal was also a major cost item for United and American.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
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Delta warns of loss in quarter
Article Abstract:
Delta Air Lines Inc has predicted a loss between $85 million and $110 million, or 70 cents to 90 cents per share in the first quarter of 2001, compared with earnings of $179 million in the year earlier period. The airline attributed the loss, which will be its first quarterly loss since March 1995, to problems with its pilots union and a softening US economy. In addition, the airline anticipates the problems to affect its financial results through the June 2001 quarter.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
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Airlines edge near bankruptcy, cut flights
Article Abstract:
United States airlines, already suffering in a slow economy, now face bankruptcy and are forced to cutback service after September 11th's terrorist attacks.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
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