Airlines, Fuel Prices | featured news

American Airlines' parent company is seeking Chapter 11 bankruptcy protection as it seeks to unload massive debt built up by years of accelerating jet fuel prices and labor struggles.

Airlines are getting rid of these planes — their least-efficient — in response to the high cost of fuel. Delta, United Continental, and other big airlines are expected to park, scrap or sell hundreds of jets with 50 seats or fewer in coming years. Small propeller planes are meeting the same fate.

AMR Corp, parent of American Airlines, reported on Wednesday a quarterly loss as the company was pressured by high fuel costs and volatile foreign exchange rates.

Rising fuel prices have forced Southwest Airlines to raise ticket prices, but the Dallas-based carrier is also focusing on efficiency measures to lower its fuel consumption, president and CEO Gary Kelly said Monday.