Airlines in a Nose Dive

Reregulation is the cry as fares continue to slide

At no time in their history have U.S. airlines been in worse shape than they are now. Economic recession has cut deeply into the number of air passengers, slimming the market to a mere shadow of its once lusty self. Eight of the top carriers alone lost $824 million last year. Regional airlines did not do much better as a group. Many of the smaller carriers that initially prospered under fare-cutting schemes encouraged by the Airline Deregulation Act of 1978 are now in trouble and...

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