US Air Transport Assn. President and CEO James May told a US Senate subcommittee yesterday that fuel price increases are "unprecedented" and "devastating" and could lead US airlines to lose nearly $10 billion collectively for full-year 2008, "on par with the worst financial year in aviation history." He added that US carriers will spend more than $61 billion on fuel in 2008, "slightly more than the total fuel bill combined for the first four years of this decade." May asserted that "market ...

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