The recovery of the airline industry seems to be at hand. Passenger traffic has recovered from the successive shocks of the Sept. 11th terrorist attacks, the SARS epidemic and the Iraq war, and it has been growing at a healthy six percent rate for the past three years, according to IATA statistics. Fuel prices have retreated from the peaks of last summer and through extensive and often painful cost cutting measures, airlines have become leaner and more efficient. As a result, the industry as ...


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