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- W624255446 abstract "The United States airline industry is in an unprecedented crisis, one that was not entirely unforeseen, but one which was nonetheless, unfortunate and avoidable. As 1991 dawned, five major airlines, accounting for nearly one-fourth of the nation's aviation passenger capacity, found themselves in some stage of liquidation, desperately selling off operating assets to raise enough cash to stay aloft. Five have also stumbled into bankruptcy, and one of those died. The U.S. fleet of aircraft is now the oldest in the developed world. The entire U.S. publicly-traded passenger airline industry could be purchased today for about $14 billion, less than the value of either Japan Air Lines or All Nippon Airways individually--despite the fact that the U.S. market is the largest in the world. These are the proud legacies of airline deregulation. The airline industry suffered recessions and sharply increased fuel costs before deregulation, but never before have major airlines collapsed. All the world's airlines are paying the sharply higher fuel prices inspired by the Persian Gulf crisis, and all are suffering from the early pangs of global recession, but only America's are in bankruptcy, only America's have died, and only America's are selling off operating assets--despite the fact that international aviation fuel costs more than domestic fuel. This article examines why America's airlines are having such difficulty in today's marketplace." @default.
- W624255446 created "2016-06-24" @default.
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- W624255446 date "1991-01-01" @default.
- W624255446 modified "2023-09-23" @default.
- W624255446 title "THE DISINTEGRATION OF THE UNITED STATES AIRLINE INDUSTRY. SYMPOSIUM: AIRLINES AND THE FUTURE OF AVIATION, WASHINGTON, D.C., MAY 28-29, 1992" @default.
- W624255446 hasPublicationYear "1991" @default.
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