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Aside from bankers and automakers, few can claim as rough a ride in 2008 as those in the airline business. Eye-watering fuel prices in the first half of the year and the onset of a global slump in the second will mean a $5 billion loss for the industry this year, according to the International Air Transport Association (IATA). More than 30 carriers from Hong Kong to the U.S. have gone under in 2008. Desperate to trim costs and bolster revenues, carriers are turning to mergers to survive, and nowhere is that happening more than in Europe. "The name...
...resources and scale may have little choice but to yield to larger ones, analysts say. Alongside Air France-KLM - Europe's biggest airline and still a favorite to grab a minority stake in beleaguered Italian flag carrier Alitalia - and the ever growing Lufthansa, an enlarged BA and Ryanair would mean "for most of the smaller network airlines who have a very weak balance sheet, they're going to have to fold into one of those four groups," says Exane BNP Paribas' Van Klaveren. Scandinavian Airlines (SAS), for one, "will survive 2009, but I doubt it can survive...
...things to denounce: Zeidi's "heroism" was just what they needed to return to the streets, bearing the usual banners of protest and U.S. flags to burn. The Sadrists also made political hay of Zeidi in parliament, bringing it to a standstill. The gadfly speaker, Mahmoud Mashadani - no mean headline-grabber himself - threatened to resign.(See the Top 10 Awkward Moments...
...projects being stopped. But demand is falling quickly too. "There's [been] nothing like this in history, in terms of falling demand" says Bjorn Hanson an industry analyst with New York University's hotel school. With the strengthening dollar, hotels are losing the European traveler; slumping corporate profits mean conventions are seeing fewer attendees; and as the job picture worsens, family vacation travel is down...
...Before the doctors could proceed, they needed not only extensive practice, but also to resolve the complex issues involved in selecting the right patient for the landmark operation. That's because transplanting a face transforms a patient's identity. Even though differences in the underlying bony structure mean the recipient is unlikely to resemble the donor once the procedure is completed, it's impossible for the patient's sense of self not to be profoundly shaken. "Picture yourself as a person who has received a face transplant," says Dr. Eric Kodish, the team's lead bioethicist. "Now use your moral...