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Fourth quarter loss widens as travel declines

Thursday, Jan. 31, 2002 | 11 a.m.

PHOENIX -- America West Holdings Corp., parent of America West Airlines, said its fourth-quarter loss widened as the recession and the Sept. 11 terrorist attacks reduced air travel.

The loss widened to $60.9 million, or $1.81 a share, from $41.7 million, or $1.24, in the year-earlier quarter, the company said in a statement. Sales fell 30 percent to $399.9 million from $573 million. The results included $29.9 million as part of U.S. government aid to airlines after the attacks.

America West, the eighth-largest U.S. carrier, is the second-largest in Las Vegas.

It joined larger rivals such as AMR Corp.'s American Airlines and Northwest Airlines Corp. in reporting fourth-quarter losses as demand declined. The industry lost as much as $9 billion in 2001, its worst year ever, the Air Transport Association trade group said.

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