American Airlines and United Airlines reported fourth-quarter losses Wednesday, attributing the declines to falling demand and the volatility in fuel prices that played havoc with their fuel-hedging programs, according to media reports.
Both carriers predicted more capacity cuts this year. AA said its net loss was $340 million, compared with a $69-million loss the same period a year ago.
UA reported a $1.3-billion net loss, compared with a $53-million loss a year earlier. The carrier also announced it would cut 1,000 salaried and management positions this year.
Both carriers predicted more capacity cuts this year. AA said its net loss was $340 million, compared with a $69-million loss the same period a year ago.
UA reported a $1.3-billion net loss, compared with a $53-million loss a year earlier. The carrier also announced it would cut 1,000 salaried and management positions this year.