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US airline losses topped $9 billion in 2004
Dateline: Wednesday February 02, 2005
US airline industry losses for the 11 largest passenger airlines (excluding ATA, which is in bankruptcy and has not reported financial results) soared to $9.21 billion last year from $2.38 billion lost by the same carriers in 2003.
The 2004 fourth-quarter loss totaled $4.16 billion, widened from $509 million in the year-ago period. Only three of the 11 were profitable during the year and all were low-cost carriers: AirTran, JetBlue and Southwest Airlines. Delta Air Lines' record-setting full-year loss of $5.23 billion eclipsed the next-biggest loser, UAL Corp., by more than $3.5 billion.
Annual revenue for the 11 carriers climbed 8.6% to $92.08 billion but remained well down on 2000, the peak year, when revenues for the 10 largest airlines totaled $97.67 billion. The drop was owing entirely to the problems experienced by the Big Six network airlines. In 2000, American, Continental, Delta, Northwest, United and US Airways had revenue of $86.2 billion. Last year, the same carriers generated $78.2 billion, down 9.4%.
Dateline: Wednesday February 02, 2005
US airline industry losses for the 11 largest passenger airlines (excluding ATA, which is in bankruptcy and has not reported financial results) soared to $9.21 billion last year from $2.38 billion lost by the same carriers in 2003.
The 2004 fourth-quarter loss totaled $4.16 billion, widened from $509 million in the year-ago period. Only three of the 11 were profitable during the year and all were low-cost carriers: AirTran, JetBlue and Southwest Airlines. Delta Air Lines' record-setting full-year loss of $5.23 billion eclipsed the next-biggest loser, UAL Corp., by more than $3.5 billion.
Annual revenue for the 11 carriers climbed 8.6% to $92.08 billion but remained well down on 2000, the peak year, when revenues for the 10 largest airlines totaled $97.67 billion. The drop was owing entirely to the problems experienced by the Big Six network airlines. In 2000, American, Continental, Delta, Northwest, United and US Airways had revenue of $86.2 billion. Last year, the same carriers generated $78.2 billion, down 9.4%.
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