Outlook: this is not an industry tragedy

摘要

War in Iraq has caused passenger numbers to plummet again, forced serious capacity cut-backs, pushed United closer to Chapter 7 and American to Chapter 11, and undermined further the fragile finances of many of the European flag-carriers. There has been the usual clamour for state aid on both sides of the Atlantic. But to put things in perspective this is not a tragedy for the aviation industry.