Airlines
Bankrupt US airline's losses double
Thursday, 28 October 2004US Airways, which is operating in bankruptcy, plunged deeper into losses in the third quarter, squeezed by high fuel prices and low-cost competitors.
Losses more than doubled to $232m in the three months to September 30 as sales edged up 1.6% to $1.8 billion.
Lost revenue and operational costs from the hurricanes was estimated to have cost the company at least $20m.
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In September, US Airways filed for a Chapter 11 bankruptcy, under which it can reorganise and try to repay creditors while still staying in business under the control of the bankruptcy court.
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