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Delta, US Airways see strong travel demand

MINNEAPOLIS — Rising fares haven’t kept passengers away, judging by financial results at Delta Air Lines and US Airways.

Both airlines reported quarterly profits on Wednesday. They each said travel demand appears to be holding up, suggesting that planes will be full and fares will be higher for the busy summer travel season.

Delta, the nation’s second-biggest airline, said it will reduce flying as much as 3 percent during the quarter that ends in June. The idea is that travelers will pay more for the remaining seats. So far, that appears to be working.

Delta earned $124 million for the most recent quarter and US Airways earned $48 million. Both airlines lost money a year ago, and both benefited from special items for their quarterly profit this year.


IMF urges further Spain bank reforms

MADRID | The International Monetary Fund on Wednesday urged Spain to push further ahead with banking reforms aimed at stabilizing its troubled financial sector.

IMF inspectors concluded Spain needs “to continue with and further deepen the financial sector reform strategy to address remaining vulnerabilities and build strong capital buffers in the sector,” it said in a report.

The conservative government that came to power in December has continued a clean-up of the banking sector prompted by the 2008 financial crisis, forcing banks to increase the amount of funds they have to cushion them in case of problems.

The IMF acknowledged Spain’s efforts but warned it needs to urgently clean up some banks that are still financially weak.