Freedom's Call

摘要

Such is the mess in the world airline industry that the halving of oil prices from their peak in July has brought only a modicum of relief. Fuel prices were high during the summer, the industry's busiest time, so airlines were unable to build up their cash reserves before demand weakens in the winter. And although the oil price has eased, the dollar has strengthened-which is bad for airlines outside America, since fuel and aircraft are priced in dollars. The onset of global recession will drive another 30 airlines out of business before the economy bottoms out, adding to the 30 that have already failed this year, predicts Willie Walsh, the boss of British Airways.