Airline Industry Posts Profits
October 22, 2010
Delta, American and U.S. Airways, three of the nation's largest airlines, posted significant profits for the third quarter of 2010 in what is considered a major turnaround for the industry. Profitable results are expected from other airlines this week, which would mark the first time since 2007 that all major domestic carriers are in the black.
Delta Air Lines Inc. said it earned $363 million in the third quarter, compared with a loss of $161 million in the same quarter last year. AMR Corp., the parent of American Airlines, reported third-quarter income of $143 million, its first profit in three years. That compared with a loss of $359 million for the year-earlier period. U.S. Airways Group reported $240 million in earnings from a loss of $80 million in the third quarter last year.
Read the full story here latimes.com
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