Word: airlinese
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Not surprisingly, there has been a lot of special pleading. The European Commission has already rebuffed calls to let E.U. governments - Switzerland isn't one of them - rescue their flag airlines. (Governments can help carriers recoup only what they lost in the four days they couldn't fly to the...
"The major airlines were in big trouble anyway," says Toby Nicol, a spokesman for cut-rate easyJet. "Now they're trying to wiggle out of playing by the rules." A competitor would say that, of course, but he has a point. Before Sept. 11, debt-burdened Swissair, which owned 49.5...
A major industry restructuring may be on the way. Look for discounters to gain even more market share and for some of the majors to merge. Worst hit will be the mid-sized players: the chief executive of British Midland, the U.K.'s second-largest airline, conceded this month that...
What's changed? A sharp drop in transatlantic flights has put the no-frills airlines on top.
Like airlines, the travel industry has been devastated by the terror threat. Worldwide, reservations for flights and hotels have declined at least 12%. New statistics from the World Tourism Organization show how bad things are for many holiday hot spots: