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Aviation Blog; January, 2009 Archive, Page 1; Aviation Blog | • Page 1 • Page 2 • |
01/31/09 23:44
Continental Airlines Inc. and the US Airways Group reported fourth quarter losses due to bad oil bets, bringing the loss of the United States' 9 largest carriers to $1.35 billion.The fallout was mainly due to advance-purchase contracts that the carriers used to lock in prices last July. After then, the price of jet fuel dropped by 60 percent, leaving the airlines with fuel priced at above-market figures. Link: Bloomberg.com: U.S.
Tags: us airways • airline losses • continental airlines •
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