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January 08, 2014 AT 7:36 AM
U.S. airlines on Wednesday made progress in getting operations back to normal after several days of storms and record cold weather forced cancellations of thousands of flights. More than 1,000 flights had been canceled on Wednesday, according to FlightAware.com data, down from 2,700 on Tuesday. Helane Becker, an airline analyst with Cowen & Co, estimated the recent weather events would hurt industry earnings by $50 million to $100 million in the first quarter.