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Airline Executives Ask Congress for Help, Project Losses from Security Costs.
Knight Ridder/Tribune Business News, September, 2002
By Gwyneth K. Shaw, The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Sep. 25--WASHINGTON -- Airline executives asked Congress for more help Tuesday, saying taxes and the expense of new security measures -- plus a likely war in Iraq -- have left the industry on the brink of disaster.
The CEOs of four airlines denied they were seeking another bailout a year after lawmakers pushed through a $15-billion aid package in the wake of the Sept. 11 attacks.
The fallout from the attacks, they said, is still being felt. The airlines are projecting losses in the realm of $5 billion to $7 billion this year, after losing $7.7 billion in 2001.
As much as $4 billion of those losses are a result of the high cost of new security...
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