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US Airways total losses at $33 billion
That pushes the total losses since 2000 to almost $33 billion, said USA Today.
Analysts also estimate that the expansion of “simplified” fare structures featuring lower business-travel prices could cost the carriers an extra $2.1 billion in 2005.
Lehman Bros. airline analyst Gary Chase in a report last week called 2004 “another financial disappointment.”
Air travelers have been reurning, so industry losses were expected to be lower, according to industry analysts. Next year, the airlines hoped, would be a breakout year for profitability.
Soaring oil prices of $55 a barrel also hurt the airlines.
Now, most analysts expect the string of industry losses to extend at least into 2006, said USA Today.
Southwest was the only airline expected to post a profit for the October-December period. Even Jet Blue and AirTran are expected to report fourth-quarter losses.
Report by David Wilkening
David
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