US Airways posted a 2008 net loss of $2.21 billion, reversed from a $427 million profit in 2007, as it contended with a roller-coaster oil market that led to significant losses on fuel hedges. In addition to $496 million of unrealized losses on mark-to-market hedging adjustments, US recorded a $622 million noncash charge to write off goodwill created by the America West Airlines merger. The carrier has moved quickly to reduce its hedging position in 2009. Executive VP and CFO Derek Kerr said ...

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