WASHINGTON, D.C. – The Senate Committee on Commerce, Science, and Transportation announced today an Aviation Operations, Safety, and Security Subcommittee hearing on The Financial State of the Airline Industry for March 13, 2008, at 10:00 a.m.

After posting nearly $35 billion in cumulative net losses from 2001 through 2005, U.S. air carriers have been able to return to profitability over the past two years. Domestic airlines earned an estimated net profit of roughly $3.5 billion last year, slightly more than the $3.0 billion in net profits achieved in 2006. Despite this success, air carriers continue to face significant challenges, including high fuel prices, growing competition, and severe congestion and delay problems. This hearing will examine the state of the airline industry with a focus on both the current financial state and long-term economic outlook of domestic air carriers and their workforce.