Airlines In Turmoil
The year 2003 saw commercial passenger aviation continue
to ebb in the wake of the 9/11 attacks, war in Iraq and
the SARS epidemic. In August, we wrote:
US Airways is in Chapter 11 bankruptcy; United's stock is at 1950s
prices, as it slides toward Chapter 11; AMR's saying it's going to
be many years before record losses are made up; Boeing Credit is
looking at $1.2 billion in UAL's debt, possibly about to become
"non-performing" -- Where will it end?