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US Airways losses more than double to $236 million in Q4
By Ted A. Knutson
Washington, Jan. 31 - US Airways, Inc. reported net losses of $236 million in the fourth quarter, more than doubling the $98 million net loss for the same quarter a year earlier.
The company blamed primarily rising fuel costs for the poor results.
However, a $144 million decline in personnel costs period over period more than made up for the $117 million surge in jet fuel spending.
Revenue for the 2004 period was down 4.6% over the third quarter in 2003, $1.66 billion versus $1.76 billion.
The Arlington, Va.-based air carrier said it will not hold a fourth quarter conference call.
US Airways filed for bankruptcy on Sept. 12 with the U.S. Bankruptcy Court for the Eastern District of Virginia. Its Chapter 11 case number is 04-13819.
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