A friend of mine just sent me this article that was sent to the employees. Not that this news is shocking or anything but this just confirms how bad things are...
All the major airlines could be in bankruptcy by early next year if oil prices stay where they are, a new study predicts. The grim analysis, by the consulting firm AirlineForecasts, was commissioned by the Business Travel Coalition. Its author concludes that the airline industry is in a full-blown crisis "and heading toward a catastrophe." The study found that major airlines could lose up to $9 billion over the next 12 months. Fares would have to increase 20 percent across the board to compensate for the higher costs of fuel, something that "is not possible given the level of uneconomic seat capacity in the system today."
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