The first quarter is always a weak one for airlines, as travel drops with the new year. But this one was especially difficult, airlines reported Thursday, as fuel prices spiked and Mideast unrest and the earthquake in Japan cut into demand for international flights.
United and Continental posted a loss Thursday of $213 million in the first quarter as a sharp increase in fuel costs largely offset gains in revenues.
Southwest reported Thursday that its first-quarter profit was $5 million, down from $11 million in the year-earlier period.
American Airlines on Wednesday reported a first-quarter loss of $436 million.
