Fri, Jan 30, 2009
Aero-News: Quote of the Day
ANN's Quote of the Day usually derives from current news,
though we reserve the right to pick quotes out of history that have
a bearing on the day's events and issues.
Sometimes, you'll find them timely and in keeping with the
content of the day's news... and sometimes, they'll just be
Reader suggestions and comments are welcome... and if
particularly intriguing, timely, or poignant, may themselves become
future Quotes of the Day.
Let us hear from you, folks!
Aero-News Quote of the Day
"The impact of high oil prices acted as a catalyst for
airlines to take unprecedented measures to bring the supply of
seats back into balance with passenger demand. We believe these
actions have significantly softened the blow from the economic
downturn that we as an industry now face."
Source: Doug Parker, CEO of US Airways. The
airline reported a fourth-quarter 2008 net loss Thursday of $541
million, largely due to fuel hedges that became staggering
liabilities as oil prices dropped below $40 per barrel. The carrier
lost $803 million for all of 2008.
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