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| Squeezed airlines clip wings |
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 Several US airlines, roiled by unrelenting fuel costs, disclosed this week that they are winnowing daily flights to certain destinations, eliminating entire routes, and in some cases withdrawing from airports - and this is just the beginning.
A Goldman Sachs report issued yesterday indicated such cuts will not be enough to compensate for the cost of fuel.
"We expect carriers to explore any and all options - capital raises, foreign capital infusions, strategic transitions, asset sales, alliances - in an attempt to bolster their positions financially and strategically in this quickly deteriorating environment," wrote analyst Christopher Cuomo. "But in a world of sustained $100-plus oil, we are not convinced these actions can provide enough relief to offset the challenges that lie ahead."
Boston.com
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Posted on Wednesday, May 07 @ 13:52:27 PDT by stu |
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