Any reprieve from stabilising fuel prices for North America carriers was short-lived as the intensity of the global economic downturn quickly led to an erosion of demand that has yet to reach a bottom. Battered profits by those airlines in 2008 are expected to receive another beating this year as jet fuel prices creep back up to add to the continuing misery of revenue weakness.

North American carriers in the Airline Business Top 150 ranking swung to a collective net loss of $20 billion after posting profits of $6.1 billion in 2007. And at the operating level 2007’s $9.5 billion profit dissolved into a $15 billion operating loss. Despite the dramatic profit decline,the carriers posted 5.8% revenue growth at $178 billion, partly driven by prudent capacity cuts, creating pricing traction, and product unbundling.

But starting in early 2009 revenue traction

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