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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Top Stories Most Popular Photos Full Coverage Sitemap 3 US airlines end quarter with flying colors, raising hopes AFP - Thursday, October 21 Send IM Story Print 3 US airlines end quarter with flying colors, raising hopes NEW YORK (AFP) - – The US airline sector appeared to be on the recovery track after three leading carriers -- American Airlines, Delta Air Lines and US Airways -- all posted on Wednesday strong quarterly earnings. The positive outlook for the embattled sector was given a further boost after US aerospace giant Boeing posted a robust quarterly profit and boosted its full-year earnings forecast as it delivered more jetliners. American Airlines reported a 143 million dollar profit for the third quarter of 2010, the first quarter ending in the black since 2007. Its revenues rose 14 percent from the same period last year to 5.8 billion dollars. The carrier has recently reported a number of partnerships with European and Japanese airlines as international travel picked up after a dramatic slump in business in the wake of the 2008 global financial crisis. Delta Air Lines announced its profits soared to 363 million dollars, compared with a loss of 161 million a year ago, in its second consecutive profitable quarter after nearly three years of losses. Delta, the second-largest US carrier after Continental Airlines and United recently merged, reported a sharp 54 percent rise from the same period last year in revenues from trans-Pacific flights and a 25 percent rise in trans-Atlantic income. "Delta's revenue performance exceeded our expectations for the quarter, with especially strong performance from our international markets," said Ed Bastian, Delta's president. "We see demand strength through the holiday period and expect solid year-over-year unit revenue growth for the December quarter." US Airways also boasted strong quarterly results, with 240 million dollars in profit. "The past three years have been extremely challenging, and our response has been swift and decisive," said the firm's chief executive, Doug Parker. Both Delta and US Airways recently announced they will hire hundreds of employees and pilots to meet growing demand. All three carriers saw their shares soar on Wall Street by 1700 GMT on Wednesday, with Delta rising nearly 12 percent, American Airways jumping 8.6 percent and US Airways up seven percent. The results are "a reversal of what was a very terrible economic environment and fuel supply environment in 2008-2009, but the history of this industry is that it never stays good for long," said airline industry analyst Robert Mann. "If business travel continues strong, and if airlines continue to maintain capacity discipline and fuel prices continue to be moderate then the likelihood is that we will see one or two additional quarters of strong earnings," he told AFP. "But this is a very cyclical business, and one can never really expect that the good times will last for a strong part of a business cycle." Boeing also posted on Wednesday a quarterly profit that beat expectations. The commercial plane maker and defense contractor said it swung into profit of 837 million dollars in the third quarter, compared with a 1.6-billion-dollar loss a year ago due to problems with its new 787 Dreamliner program. Boeing also raised its guidance on 2010 earnings, citing a stronger outlook for its commercial airplanes division. Net orders for commercial aircraft almost tripled to 221, as the company delivered 124 planes in the third quarter, up from 113 a year ago. Mann noted the rise in Boeing orders came mostly from foreign airlines and not from North American carriers, which remain cautious after the troubled years. "Usually a rise in orders follows a strong period of earnings. In this case, there are very little deliveries in North America. North America has not been a buyer of airplanes, it has been a laggard," he said. "Almost anywhere else in the world has been accumulating planes more rapidly than North America because the North American markets have a had a two business-cycles failure." Boeing shares rose almost three percent. 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