US Airways reports more losses

Oct 23, 2008

Analysts actually expected US Airways to do worse last quarter. As it stands, the airline lost $865 million, which is more any other major carrier reported losing for the same quarter. In a statement, US Airways Chairman and CEO Doug Parker pointed to "crippling fuel prices" over the summer. He also notes the current economic situation is both good and bad news for the airline: Oil prices have now fallen well below last quarter. But the economic crisis may put a damper on air travel. As travelers out of US Airway's hub in Charlotte well know, the airline is coping with its losses by charging passengers extra for drinks, checked bags and better seats. The company says those charges will raise an extra $400 or $500 million in 2009.