AIRLINES: Takeoff to Recovery

THE airline industry is like the little girl who had a little curl right in the middle of her forehead. When the industry is good, it is very, very good; but when it is bad it is horrid. After nearly two years of being absolutely awful, largely because the U.S. economy was sluggish, the highly cyclical air-travel business appears headed for good times once again.

The Civil Aeronautics Board is forecasting pretax profits of up to $350 million for the eleven domestic trunk lines this year, up from last year's $25 million and...

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