World's airlines expected to lose $8 billion

[marmar]

Airlines fall; trade group sees heavier 2008 losses
By Christopher Hinton, MarketWatch


NEW YORK (MarketWatch) -- Airline stocks traded sharply lower Monday, continuing their decline from last week as the International Air Transport Association updated its 2008 global-industry financial forecast to a loss of $8 billion, citing a faster-than-expected deterioration in travel demand at the end of last year.

The Amex Airline Index fell 7% to 14.33 points. All of the benchmark's components declined. In the last 52 weeks, the sector index has moved in the range of 34.22 to 12.66 points.

Meanwhile, heavy selling resumed in the broader market. The Dow Jones Industrial Average plunged 300 points to 6,763. Read Market Snapshot.

Among shares of individual carriers, US Airways Group lost 13% to $2.47, UAL Corp. fell 13% to $4.26, AMR Corp. dropped 8% to $3.74 and Continental Airlines shed 4% to $9.60. UAL and AMR are the respective corporate parents of United and American Airlines.

In a report issued Monday, the Geneva-based International Air Transport Association adjusted its 2008 loss estimate for the airline industry to $8 billion from a previously projected $5 billion,.
For the fourth quarter, losses are estimated to be about $4 billion, with heavier downturns in Europe and Asia.

"Unlike earlier in the year, airlines are now losing money at the operating level," IATA said in a statement. .........(more)

The complete piece is at: http://www.marketwatch.com/news/story/Updated-forecast-pegs-2008-airline/story.aspx?guid=%7BBFD4A27E%2D8E1A%2D4C95%2DAABB%2DD985D1C0A43D%7D&dist=hplatest

[musiclawyer]

1. Nationalize bank-- check

nationalize auto industry--check

nationalize airlines-- um...check ?

Boy this derugulation stuff is a gigantic failure

[seabeyond]

2. treat me like a criminal, lose all my rigths by stepping into an airport, i wont

pay for that "privilige".

my family use to fly a lot. i wont fly anymore. i wont give them a penny of my money

[Jkid]

3. Here's a better idea

1. Use funds that would bailout airlines to Amtrak.
2. Make Amtrak service free for coach, intercity, and commuter services.
3. Expand amtrak service to cities and towns with at least a population of 5,000.
4. Restrict air routes to cross-coastal to international routes.

Problem solved.