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CHARLOTTE, N.C. -- Despite a 3% cutback in domestic capacity in 2008, US Airways(LCC Quote) says it will report a full-year loss, primarily as a result of skyrocketing fuel costs during much of the year.
The carrier lost money in each of the first three quarters and is expected to report a loss estimated at $1.71 in the fourth quarter, bringing the full-year estimated loss to $8.02, according to analysts surveyed by Thomson Reuters. Looking ahead, analysts estimate a profit of $2.99 in 2009. Domestic capacity was down 3% for the full year, 7.3% in the fourth quarter and 8.1% in December.
Shares in US Airways were trading Wednesday afternoon at $8.91, down 15 cents. ...
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