7/8/2009

As major airlines completed reporting their June traffic figures, analysts said the monthly results portend another quarter of "losses across the board." All of the eight largest U.S. carriers saw falling traffic in June, with an average decline of 6.1%. Unit revenues were also under pressure, with most carriers seeing double-digit declines. "Everybody is in the same boat on demand and pricing," said an analyst with Stifel Nicolaus & Co., predicting "some pretty ugly earnings numbers" for the second quarter.

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USA Today, Reuters

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