CORRECTED - WRAPUP 2-Delta, US Airways results hampered by economy

* Delta, US Air post net losses

* Industry groping through uncertain economic recovery

* Question mark over return of business travelers

* Low-cost carriers turn profits

* Most shares down (Corrects misspelled name is paragraphs 7-8) (Updates with conference calls, Delta integration timetable)

By Kyle Peterson

CHICAGO, Oct 22 (Reuters) - Signs of recovery are popping up in many corners of the U.S. economy, but the bosses of major airlines are still reaching for that rainbow.

Quarterly results reported by Delta Air Lines Inc (DAL.N) and US Airways Group Inc (LCC.N) on Thursday underscored their plight, which is characterized by weak revenue caused mainly by sagging demand for high-end business travel.

The figures from Delta and US Airways, which sent their shares lower, were consistent with those reported this week by big rivals.

The industry is groping its way through what Delta executives called a "choppy" economy.

US Airways, Delta and other airline executives told analysts in conference calls that they see encouraging fourth-quarter booking and revenue trends. The outlook then gets cloudy, with fares expected to stay low for the most part and fuel prices, which dropped substantially this year, again on the rise.

"We remain cautious in these early stages of an uncertain recovery," Delta Chief Executive Officer Richard Anderson said.

Morningstar equity analyst Basili Alukos said uncertainty about business travel is the big wild card: How strong will a return of premium-paying passengers be?

"My guess is that it will definitely be muted," Alukos said.

Shares of Delta, the world's largest airline, were up 11 cents, or 1.3 percent, at $8.44 on the New York Stock Exchange in afternoon trading. US Airways' shares fell 8 cents, or 2.1 percent, to $3.79. also on the NYSE. The Arca airline index .XAL was down 0.3 percent.

LINGERING WEAKNESS