American Airlines lost $359 million in Q3 2009 on revenue of $5.1 billion, which was 20% less than Q3 2008. That is a huge drop in revenue, no doubt because fewer people are traveling, and at lower fares. And as if that's not bad enough, the third quarter is usually one of the strongest revenue periods. The fourth quarter is the difficult one.
And can you imagine what the figures would have looked like without the new fees airlines are charging? One wonders if some airlines would survive without them.