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Fri, Jan 30, 2009

Aero-News: Quote of the Day (01.30.09)

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 thought-provoking.

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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