USAirways, which recently emerged from bankruptcy, posted a “profit” last quarter. It’s $13 million in the black included $214 million from the federal government, so this news doesn’t say too much about the airline’s business effectiveness. So call me skeptical when the company’s president says

“We have made great strides in executing the key elements of our restructuring plan related to increasing revenue, reducing costs and improving liquidity, all against the backdrop of a challenging industry environment”

Continental, Northwest, and Delta are all in the same boat.