Word: downdrafts
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Dates: during 1980-1989
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...norm since Congress deregulated the airline industry two years ago. Discount fares like the Super Saver cut ticket prices by up to 55%. For a while, the crowds of new passengers kept earnings up, but the combination of rising fuel costs and recession sent the airlines into a downdraft. Since 1979 the price of jet fuel has jumped from 40? per gal. to 92?, while passenger traffic has slid by 3%. The major carriers, which earned a record $1.2 billion in 1978, have lost a total of $333 million...