American airlines doing better than foreign competitors
US airlines are expected to do better than most of their foreign competitors this year for two reasons: (1) they are cutting back on unprofitable routes and; (2) the US economy is improving.
“U.S.-based carriers have been cutting capacity since last year in response to surging oil prices, while most European and Asian carriers have been slower to reduce flights or fly smaller aircraft on their routes,” says Reuters.
In the fourth quarter, domestic capacity is expected to fall to levels unseen since after the Sept. 11 attacks, when airlines saw air travel demand crumble, according to the Air Transport Association (ATA).
"The U.S. airlines have done so much more than the international airlines to improve their own outlook," said Helane Becker, an analyst with Jesup & Lamont Securities.
She added: "Those guys are just cutting capacity now," she said, referring to European carriers. "They’re almost a year later than US airlines."
US airlines could still end 2009 in the red, however, experts warned.
US carriers have cut domestic capacity 12 percent in the past two years in response to the spike in oil prices last year and the drop-off in consumer spending this year, ATA data shows.
By David Wilkening
David
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