Group expects airline industry to lose $2.3B in 2008

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Excluding Southwest Airlines Co., industry analysts expect the 10 largest U.S. carriers to post losses of about $4.8 billion this year.

The huge loss represents a sharp turnaround from the International Air Transport Association's March prediction that carriers collectively would report net income of $4.5 billion this year. The trade group says high energy prices have created an "extraordinary crisis" that could drastically change the airline industry.
Airline Biz blog