THE CHALLENGE: Fuel prices have cooled recently, but they're still sucking profits from the airline industry. Jet fuel rose above $4 per gallon for the first time in the three-month period that ended June 30, almost double its cost during the same period last year. Most carriers have posted big losses this quarter including United parent UAL Corp., American Airlines parent AMR Corp., Delta Air Lines Inc., and US Airways Group Inc.

Airline shares gave up much of last week's gains, as oil prices rose on Monday and a survey of airline executives showed their already pessimistic outlook for profits over the next year growing dimmer.

Northwest Airlines Corp. reports second-quarter results on Wednesday. The following is a summary of key developments and analyst opinion related to the period.

A survey released Monday by the International Air Transport Association suggests airline executives have lowered their already-pessimistic views for the industry's profitability over the next year.

Among the stock activity stories for Friday, July 18, from the AP Financial News:

Not counting those billion-dollar losses, last week wasn't so bad for airlines.

UAL Corp., the parent of United Airlines, reports its fiscal first-quarter results on Tuesday. The following is a summary of key developments and analyst opinion related to the period.

Shares of Pinnacle Airlines Corp. soared after it said in a regulatory filing it will continue to operate Delta Connection flights for Delta Air Lines Inc.

Australia's top airline, Qantas Airways Ltd <QAN.AX>, will cut 4 percent of its workforce and scrap its growth plan for the coming year, saying the business would be at risk if it fails to offset soaring fuel prices.

By Denny Thomas

Business travelers and international traffic have helped sustain U.S. airlines as leisure travelers recoiled from higher fares and fees, but it looks like businesses are stepping back from the high price of flying too.

US Airways Group Inc. reports its second-quarter earnings Tuesday. The following is a summary of key developments and analyst opinion related to the period.

Airline manufacturers are trying to bolster their green credentials by playing down the importance of speed and lauding initiatives to reduce the environmental impact of flying, as well as the cost.

Delta Air Lines plans to discontinue SkyWest Airlines flights between Yakima and Salt Lake City, effective Aug. 31.

Continental Airlines Inc <CAL.N> on Thursday reported a quarterly loss, citing high fuel prices, a weakening economy and a weak U.S. dollar.