Business Services Industry
The darkest hour.
Australasian Business Intelligence, March, 2003
Mar 23, 2003 (The Economist - ABIX via COMTEX)
American airlines are fighting for survival. Continental, American Airlines and United Airlines are on the brink of bankruptcy. The war in Iraq will make the situation even more difficult. Jet fuel prices doubled in less than twelve months. United Airlines reported a dramatic fall in the number of bookings. People are afraid of flying after the US Government raised its domestic terrorist alert to "code orange", which indicates a high risk of attacks. The Air Transport Association estimates that the US air industry will lose $US10.7 billion in 2003, compared with $US7.4 billion lost in 2002.
Publication Date: 22 March 2003
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