BRIEF: US Airways reports 2Q loss of $567 million: Related Content

Jul 22, 2008 (The Charlotte Observer - McClatchy-Tribune Information Services via COMTEX) -- LCC | Quote | Chart | News | PowerRating -- US Airways today joined the list of airlines reporting staggering losses amid soaring fuel costs, posting a loss of $567 million for the second quarter.

The loss comes after Charlotte's dominant carrier reported a profit of $263 million for the same period last year. US Airways also ended the quarter with $2.8 billion in cash and investments, suggesting it should be able to avoid bankruptcy -- a growing concern as fuel costs have rocked the airline industry -- for at least several months.

"Our second quarter results reflect the unprecedented rise in fuel prices that are impacting our industry," US Airways Chairman and CEO Doug Parker said in a statement. "We are working diligently to reduce capacity and costs and execute on the new revenue programs recently announced by US Airways and other airlines."

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