Business Services Industry
Flying dinosaurs.
Australasian Business Intelligence, February, 2003
Feb 11, 2003 (The Economist - ABIX via COMTEX)
Many American airlines are close to bankruptcy. They have been seriously affected by a fall in business travel, overcapacity and rising competitive pressure from low-cost carriers. US Airways has reported that it is losing $US5 million a day. Frederick Reid, president of Delta Air Lines, says that for too long the airlines relied on business travellers buying tickets shortly before the flight. The Internet has changed the situation dramatically by enabling travellers to buy cheap unsold tickets through web sites.
Publication Date: 8 February 2003
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