Airline Industry Finally Admits It Is Screwed: Can United (UAUA), American (AMR), and Delta (DAL) Survive?

Awful news from the airline industry just won’t stop.

Only three months ago, the International Air Transport Association had forecast a $4.5 billion profit for 2008. Yesterday, officials cut that estimate to a $2.3 billion loss.

And that’s assuming oil goes down in price. If oil were to stay around $135/barrel (never mind rise), the industry will lose approximately $6.1 billion.

A staggering 24 airlines went bankrupt in the last 6 months, about four times as many as the group usually sees in a year. The airline industry also clamored for less regulation (on mergers and carbon emissions) and more government aid

See Also:

Southwest: Still Smarter Than All The Other Airlines (LUV, AMR, UAUA, CAL, DAL, LCC)

Credit Suisse: We Were Wrong About Airlines–They’re Toast (DAL, NWA, LUV, AAI, JBLU, LCC)

Cheap Flights Gone Forever–And So Are Many Airlines (British Airways Chief) (DAL, CAL, UAUA, AMR, LCC)

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