Northwest Airlines Lost $349 Million in January

Northwest Airlines lost $349 million in January, burdened by expenses from its ongoing restructuring. Northwest said in a court filing on Wednesday it had $291 million in reorganization items in January. Its operating revenues for the month were $892 million.

Northwest, which has been in Chapter 11 bankruptcy protection since September 2005 and hopes to emerge by the second quarter, said it had $1.62 billion in cash and cash equivalents at the end of January.

Northwest Airlines, which like other large traditional carriers has suffered from high labor and operating costs, is relying on bankruptcy protection to cut expenses by as many as $2.5 billion a year.