U.S. major airlines are exploiting burgeoning international markets while shrinking domestic capacity, leading to higher profits in the second quarter. Of the network airlines that released their results last week—UAL Corp., US Airways Group and Alaska Air Group—UAL Corp., which blamed domestic overcapacity for part of its $152-million net loss in the first quarter, was best able to shift resources to international markets and cut costs, leading to a $274-million net income during the second quarter.
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