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The worst of the oil shock is probably over. That's the good news. The bad news for the airline industry is that high crude oil prices aren't going anywhere soon.
Even with crude oil's 10% retreat from its record high of more than $55 a barrel in October, industry observers expect jet fuel to remain a big problem because it hasn't fallen nearly enough for many carriers to avoid further heavy losses.
Oil's rise was a big factor behind last year's losses. Seven of the top eight U.S. carriers lost a combined $9.50 billion. The remaining airline among the eight, Southwest (LUV Quote) earned $313 million. ...
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