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U.S. Air sees '09 profit but business demand falling
TEMPE, Ariz |
TEMPE, Ariz (Reuters) - US Airways Group Inc expects to earn a profit in 2009 even if passenger revenue should fall 15 percent, company president Scott Kirby said on Tuesday.
Speaking at a US Airways media event, Kirby also said demand for business travel is slowing and the pricing environment is weakening.
The airline industry has been battered this year and in 2008 by economic recession that has eroded travel budgets. Airlines, including US Airways, have fought back by cutting capacity and adding fees for items and services that used to be included in the price of a ticket.
Shares of US Airways were down 2 cents to $2.69 after being up as high as $2.77 earlier.
(Reporting by Kyle Peterson, editing by Gerald E. McCormick)
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