Posted AT 6:01 AM EDT on 22/05/08
Global airline shares fall sharply
SINGAPORE — The world's top airlines warned on Thursday that soaring fuel prices were hitting profits, prompting some to increase fares, and global leader American Airlines announced thousands of job cuts to counter higher costs.
Airline stocks fell sharply in Asia and Europe after stock in American's parent AMR Corp shed a quarter of their value as investors fretted over the cost of jet fuel, which is most airlines' single-biggest expense.
The full text of this article has 550 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
