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, more than double the $1.54 billion shed in the year-ago period. Losses were not spread evenly, however, as two airlines, Delta and United, spilled $2 out of every $3 in red ink, much of it owing to special charges related to their respective restructurings. Three Majors were ...

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