WASHINGTON (AP) - The U.S. Postal Service says it lost $1.9 billion over the
last three months and warns that losses will continue to mount without help
The loss for the financial quarter ending March 31 was narrower than a $3.2
billion loss for the same period last year, thanks to slightly higher
revenues and lower payments towards health benefits for workers who will
retire in the future.
But the post office continues to lose money at a rapid pace due to a decline
in mail volume and a Congressional requirement that it make advance payments
to cover expected health care costs for future retirees.
Postmaster General Patrick Donahoe says the post office is considering its
options, including another possible increase in prices.