US Airways joined formation with the other big carriers and reported a third-quarter loss on Thursday as it cut fares and flew less.

The Tempe, Ariz.-based carrier lost $80 million as revenue fell 16.6 percent from the same period last year, to $2.72 billion. However, the loss was smaller than analysts expected.

Businesses have put air travel on hold, prompting US Airways and other carriers to push down fares. That has kept seats full but hurt revenue. The carrier cut flying by 3.6 percent compared to a year earlier. It blamed the revenue drop on the combination of less flying, "aggressive industry-wide fare sales, and the reduction in business demand." The amount it collected for each mile flown dropped 13.5 percent.

Chairman and CEO Doug Parker called the economic environment "soft, but improving."

US Airways shares fell 6 cents to $3.81 in morning trading.

All of the largest carriers lost money in the third quarter, although JetBlue, AirTran and Alaska airlines reported profits.

The loss at US Airways Group Inc. worked out to 60 cents per share. It would have been 83 cents per share if not for special items. On that basis, analysts surveyed by Thomson Reuters were expecting a loss of 94 cents per share.

US Airways ended the quarter with $1.5 billion in unrestricted cash.

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