For the year Northwest Airlines lost nearly $3 billion but the company is touting that before taxes the airline would have made a profit in the 4th quarter. Their $2.8 billion dollar loss for 2006 comes as record oil prices rocked the industry in summer 2006.
Northwest believes that cutting over a billion dollars in labor costs, shedding high cost leases and reinvesting in a more modern fleet will help them emerge from bankruptcy protection later this year. Rumors are still floating it might not be as a stand alone carrier either. Though any such talks have yet to be seen.
For the 4th quarter, Northwest Airlines reported a $267 million dollar loss. Much better than in 2005 when they reported a $1.3 billion dollar loss.
Northwest Airlines is expected to emerge from bankruptcy protection Spring 2007.
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