U.S. airline industry looking at worst-ever loss

by Canadian Shipper

Following the terroris attacks on the U.S. Tuesday, analysts at UBS Warburg say the US airline industry, which was expected to take a loss of $2.3 billion this year, is now likely to lose $4.4 billion, the largest single-year loss ever.

The incremental impact on airlines of the tragic events of Sept. 11 has been estimated at $2.1 billion. The industry also is expected to be unprofitable next year, with a loss of $400 million against previous expectations of a $700 million profit.

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