JetBlue, US Airways, fly in the red
The airlines' losing streak continued Thursday, as high fuel costs and sagging economy put a drag on operations, dpa reported.
The country's sixth largest passenger carrier US Airways flew deep into the red in the third quarter, like most of its rivals.
JetBlue, partially owned by Lufthansa, on the other hand narrowly missed the profit zone.
But in both cases, the losses were less than analysts expected.
US Airways reported losses of 865 million dollars after earnings of 177 million dollars in the same period last year. Sales climbed 7.4 per cent to 3.3 billion dollars, the Arizona-based company said.
The discount flier JetBlue reported losses of 4 million dollars compared to earnings of 23 million dollars in the same period last year. Sales climbed 18 per cent to the highest ever of 902 million dollars.
Despite the economic crisis, JetBlue went forward with opening a new terminal at its main base at John F Kennedy airport in New York. Lufthansa owns 20 per cent share of the company.
The US air transport industry has been hit by the double whammy of high fuel costs and collapsing economy. Nearly all the US airlines have been reducing fleet size, eliminating flights and cutting thousands of jobs.