Word: bleaknesses
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...that activity reflects the grim prospects facing the industry next year. IATA expects the world's airlines to lose an additional $2.5 billion in 2009. Passenger traffic, it forecasts, will slide 3%, the first fall since 2001. Next year looks particularly bleak for European carriers. Having hedged more than U.S. rivals against the spiraling fuel costs earlier this year, European airlines - now locked in to fuel contracts - are less able to benefit from the steep slide in the price of oil in recent weeks. American carriers have also reacted quicker than European rivals when it comes to cutting back...
...military officers, speaking privately, concede that the bleak outlook in Afghanistan will probably prompt a scaling back of U.S. goals for the country. The desire to build a strong central government with a large army is likely to be de-emphasized in favor of a provincial structure that relies more on local militias to provide security. "There's a widespread belief in national-security circles that the Bush Administration's goals for Afghanistan were too ambitious," says Stephen Biddle, a military expert at the Council on Foreign Relations. "If George W. Bush had served a third term, my guess...
...recent weeks Chinese officials have suggested that the immediate picture for the country could be bleak. "In this coming period, we will starkly confront the effects of the sustained deepening of the international financial crisis and pressure as global economic growth clearly slows," Chinese President Hu Jintao acknowledged last month...
...current financial crisis. The most recent estimates put the damage at around $8 billion dollars, while the New York Times has warned that substantially more might be lost from harder-to-assess investments, some of which have not been revalued since Wall Street’s crash. Such a bleak financial picture has caused talk of tightened budgets, not spending sprees...
...fair, the team’s attitude is a winning one—no one can deny the power of being optimistic in bleak situations. However, the idea that last year’s streak isn’t on anyone’s mind is somewhat more troubling...