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"It's not as though we have blinders on," Ayer said. "We understand we're part of the industry, and we need to be aware of what's happening, and if that does produce opportunities for us, then we'll be looking at that."
Neidl said he expects the industry to consolidate this year. The only other way to turn a profit with fuel costs so high would be to raise prices, Neidl said.
"But they're all afraid to do that in a weakening economy," he said.
For the fourth quarter, US Airways reported a loss of $79 million, or 87 cents per share, in contrast to a profit of $12 million, or 13 cents, in the year-ago period. Revenue edged lower to $2.78 billion from $2.79 billion.
Excluding special items, US Airways reported a net loss of $42 million, or 45 cents per share, for the period.
Alaska Air Group posted a profit of $7.4 million, or 19 cents per share, versus a loss of $11.6 million, or 29 cents, a year earlier. Revenue rose 8 percent to $853.4 million, due mostly to rising passenger revenue.
However, adjusted for fuel hedging as well as special charges and benefits, Alaska Air's loss widened to $17.9 million, or 46 cents per share, from $3.4 million, or 8 cents.
Frontier Airlines Holdings Inc. also reported earnings for its fiscal third quarter late Thursday. Its quarterly loss more than doubled after its fuel costs rose 16.3 percent and federal certification was delayed for its turboprop subsidiary.
For the period that ended Dec. 31, Denver-based Frontier reported a net loss of $32.5 million, or 89 cents a share, compared with a loss of $14.4 million, or 39 cents a share, a year earlier. Revenue increased 23 percent to $333.9 million.
US Airways' costs for fuel and related taxes surged 26.9 percent in the fourth quarter to $730 million as oil prices touched new highs. Meanwhile, the Tempe, Ariz.-based company's mainline traffic fell 3.2 percent as it trimmed capacity 4.6 percent.
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AP Business Writers Elizabeth M. Gillespie in Seattle, Sandy Shore in Denver and Lauren LaCapra in New York contributed to this report.
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