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American Airlines parent AMR Corp. said it would cut planned capacity growth this year as the industry wrestles with higher oil prices.
Most U.S. airline shares moved lower on Tuesday as oil prices continued their rise in wake of unrest in the Middle East. U.S. crude futures were up $1.46 at $98.43 a barrel. The Arca Airline index was down 1.4 percent.
A senior Delta Air Lines Inc. executive said Thursday that more fare increases are needed to counter escalating fuel costs as the airline pares plans to boost capacity this quarter.
Ed Bastian, president of the second-largest U.S. airline, said Delta had recouped half of the rise in jet fuel costs in the last two months through higher fares. Get the full story »
United Continental Holdings Inc. Wednesday posted a wider quarterly net loss on expenses tied to last year’s merger of UAL Corp. and Continental Airlines, but excluding items the company made a profit.
The parent of United Airlines reported a fourth-quarter net loss of $325 million, or $1.01 per share, compared with a loss of $266 million, or 85 cents per share, a year earlier. Get the full story »
