Fares continued to fall, oil prices continued to rise. That sums up the experience for the 11 largest US passenger airlines in the first quarter ended March 31. In aggregate, they posted a net loss of $3.2 billion for the period, more than double the $1.54 billion shed in the prior-year period. Losses were not spread evenly, however, as two airlinesDelta and Unitedspilled $2 out of every $3 in red ink, much of it owing to special charges related to their respective restructurings. Three ...

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