Old School
Well-known member
- Joined
- Feb 17, 2005
- Posts
- 115
NEW YORK oug Parker of U.S. Airways said Thursday the industry is facing a downturn as it grapples with record-high oil prices and a weaker economy. "Our industry is a mess, if you haven't noticed," said Chief Executive Doug Parker, speaking at the airline's headquarters near Phoenix. "We're about to head into what looks like another downturn." In the last six months, the Amex Airline Index has fallen about 38%, partly on concerns that a U.S. recession and housing crunch could decrease travel spending. Shares of U.S. Airways fell 5% at last check to $13.08.