BRIEFING: The Flight Stuff

Doug Parker, 42, became CEO of Arizona-based America West Airlines, the nation's eighth largest carrier, on Sept. 1, 2001, and has turned around what critics used to call "America Worst." He spoke to TIME's SALLY B. DONNELLY on the state of the airline industry:

TIME: It seems as if the industry is imploding. What's going on with the major airlines?

DOUG PARKER: Deregulation [begun in 1978] is finally sorting things out. There are far too many carriers flying far too many seats, based in part on labor contracts that are out of line with what customers are willing to pay. And...

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