Looks like fuel costs and pretty much ripping apart the airline industry. Note they’re talking about fare hikes of 20% just to stay even!
United Airlines Parent Loses $537 Million, Cuts 1,100 Jobs
United Airlines parent UAL Corp. lost about a third of its market value Tuesday after reporting a $537 million first-quarter loss due to soaring fuel costs and saying it is cutting flights and 1,100 jobs. The sell-off accelerated and shares of other airlines dropped after [...]
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