US Airways provides pessimistic outlook
US Airways, which provides service at Raleigh-Durham International Airport, reported second-quarter earnings of $34 million Tuesday but at the same time said that its existing cost structure 'will not allow for sustained profitability, given the competitive environment now dominated by low fares.'
US Airways, which emerged from Chapter 11 bankruptcy protection last year, has been battling low-cost carriers like Southwest Airlines at airports across the United States, including RDU.
US Airways "
"Absent an immediate and dramatic reduction in costs, this nominal (second quarter) profit is insufficient, and we will likely be faced with additional second half losses," US Airways Chief Executive Officer Bruce R. Lakefield said in a statement.
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