Airline Losses May Top $600 Million Due to Snow

Workers de-ice a plane at Chicago's O'Hare International Airport 
(Flickr: Cliff1066TM)Airlines may have already lost more than $600 million due to snow in this very active winter.

 

Storms have already forced the most cancelations of any winter since the government began tracking such data in 1987.

 

Just last week, nearly 20,000 flights were canceled as a massive winter storm dumped snow on major US hubs like Chicago’s O’Hare International.

 

Since November 1, the number of canceled flights nationwide stands at 89,884, according to FlightStats and FlightAware.com.

 

That number would put airlines’ net revenue loss at about $629 million, according to AirlineForecasts LLC, a company that builds financial models for investors.

 

That is not a good way to start the year for an industry already facing financial trouble due to rising fuel costs. Officials and travelers can only hope that the worst of the winter onslaught is over.

 

Source: Bloomberg

Flickr: Cliff1066TM

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