Bankruptcy Losses Mount... But Could This Be Worst Of
It isn't easy being
Northwest Airlines... but the bankrupt carrier hopes it's seen the
worst of it. Just two days after US Airways reported a quarterly
profit for the first time in five years, Northwest had to report it
lost a whopping $1.1 billion -- with a "B" -- between January 1 and
April 1 this year.
It would seem the pace of Northwest's losses are really picking
up -- as that's twice the quarterly loss suffered by the airline
compared to the same time last year.
What's to blame? Skyrocketing fuel costs... as well as a recent
reorganization the carrier says cost $975 million. But let's look
at this again.
However, Northwest is quick to point out that number makes
things seem worse than they actually are. If you take away the cost
of the reorganization, Northwest actually only lost $129 million in
the first quarter. Same time last year... the company lost about