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NWA first-quarter loss doubles to $458 million
"Record high fuel prices and increasingly noncompetitive labor costs," excess industry capacity and the impact of Delta's SimpliFares were cited by Northwest Airlines President and CEO Doug Steenland as he reported that the carrier lost $458 million in the first quarter ended March 31.
Excluding a special $18 million charge related to a loan prepayment by former subsidiary Pinnacle Airlines, the loss dropped to $440 million. In the year-ago period, NWA lost $223 million.