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Major US airlines descend into loss
Major US airlines dived deep into losses in the third quarter, stalling under the pressure of record fuel prices and near-lethal competition with budget carriers. Four of the traditional carriers - American Airlines, Northwest, Delta and Contentintal - bled red ink, even after unprecedented cost-cutting to skirt bankruptcy in an industry-wide crisis. The two others - United Airlines and US Airways - remain in bankruptcy with their chances of escape in doubt.Posted by: Mark Espinola 2004-10-21 |
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