Airlines for America (A4A) said Wednesday that the 10 US passenger airlines that have reported first-quarter results incurred an aggregate net loss of $1.73 billion, down 74% from a net deficit of $1 billion in the March 2011 quarter. The results mean US carriers operated on a negative 5.2% net margin for the year’s first three months, worse than the negative 3.2% margin on which they operated in the prior-year period. A4A chief economist John Heimlich noted that the first ...

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