Airlines Facing Another Huge Round Of Losses
ANALYSTS FORECAST $10 BILLION IN 3RD-QUARTER LOSSES FOR AIRLINE INDUSTRY
(CNN) – Analysts are preparing to see huge losses when airlines begin reporting third-quarter financial results on Tuesday.
They are predicting the industry will report about a $10 billion loss.
Airlines reported combined losses of $12 billion in the second quarter.
But fall bookings do not look great, so a recovery is not on the horizon.
Delta will be the first airline to report the results.
American and United have cut more than 30,000 jobs combined since the end of September.
And negotiations over a second industry stimulus have hit a stumbling block in Washington.