But for the grace of US taxpayers, patient bankruptcy judges and the deep pockets of GE Capital Corp., the long-awaited consolidation of the US airline industry might have begun in earnest last year as companies such as United Airlines, US Airways Group and Delta Air Lines simply ran out of financial options. Together, the three accounted for $7.5 billion of the $9.2 billion in aggregate losses suffered by US Major passenger airlines in 2004. Delta by itself accounted for nearly 60% of the industry's annual loss and a bit more than half of the fourth-quarter loss.
But for the grace of US taxpayers, patient bankruptcy judges and the deep pockets of GE Capital Corp., the long-awaited consolidation of the US airline industry might have begun in earnest last year as companies such as United Airlines, US Airways Group and Delta Air Lines simply ran out of financial options. Together, the three accounted for $7.5 billion of the $9.2 billion in aggregate losses suffered by US Major passenger airlines in 2004. Delta by itself accounted for nearly 60% of the ...
Subscribe to Access this Entire Article
"Legacy of Losses" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.
