Airlines to Seek More Help From Congress
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Leading U.S. airline executives will detail the industry’s sorry financial condition to Congress this week and ask lawmakers for more help to stem mounting losses.
Chief Executives Leo Mullin of Delta Air Lines, Donald Carty of American Airlines parent AMR Corp. and Richard Anderson of Northwest Airlines will appear before the House aviation subcommittee Tuesday.
The industry has stepped up lobbying this month as airlines prepare to report another quarter of staggering losses.
Major airlines posted $7.7 billion in red ink last year even after receiving billions in a government bailout. Wall Street estimates show that the nine biggest U.S. airlines will lose $5.7 billion to $7 billion in 2002 and as much as $3.3 billion in 2003.
Rep. John Mica (R-Fla.) is considering legislation to help the airlines, but no plan has emerged.
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