Business Services Industry
Airlines hit turbulent times.
Australasian Business Intelligence, April, 2003
Apr 04, 2003 (The Age - ABIX via COMTEX)
Despite external appearances, the international airline industry is no longer as glamorous as before. War, disease and terror have taken the sheen off an industry that once combined style and profitability. With the US leviathan American Airlines about to file for bankruptcy protection, following United Air Lines and Air Canada, the industry has been brought sharply to earth by economic realities. The US Air Transportation Stabilisation Board has $US10bn to back airlines with loan guarantees, but even this amount may be inadequate, with US airlines requesting a pure grant of $US3bn from the US Government to keep flying. Also at risk will be the revenues world governments earn from airlines through imposing taxes and...
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