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Airlines adding up losses from February storms

The snow from last month's storms along the East Coast has melted in most places, but not where it matters most for airlines — their financial ledgers.

US Airways and Continental Airlines say the storms cost them a combined $55 million in lost revenue. Other airlines, including the U.S.'s two biggest, Delta and American, say they don't have figures yet on the storms' impact or won't disclose them.

Helane Becker, an analyst who covers the industry for Jesup & Lamont, estimates the lost revenue will total between $80 million and $100 million for the whole industry.

For US Airways and Continental, the storm-related losses amount to about 1 percent of each carrier's expected revenue in the first quarter, according to analysts. But with airlines struggling to return to profitability after two years of heavy losses, every million counts.

The storms caused airlines to cancel thousands of flights and to delay many others. FlightStats.com, which tracks airline operations, says 7,400 flights were canceled during the storms at the seven largest airports affected by the weather, ranging from Washington to New York.

US Airways had to suspend operations for six days at three of its largest airports. It canceled 7 percent of its flights for the entire month, and said it lost $30 million in revenue.

Continental closed down its Newark, N.J., hub even before the first snowflakes fell. It took a $25 million hit.

Robert Mann, an airline-industry consultant in Port Washington, N.Y, said leisure travelers will reschedule trips and some business meetings that were canceled will be made up, so some of the lost revenue will be recovered.

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