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Sunday, Jul 21, 2024

Airlines plan more cuts amid bleak outlook

Rising oil prices are again a worry for U.S. airlines, which are seeing their largest expense soar at a particularly inopportune time: as a global recession and fears of swine flu prompt fewer people to travel. As they did when oil escalated a year ago, large U.S. carriers are clamping down on spending and cutting capacity in an attempt to stem losses and eventually to force ticket prices higher. They also are searching for inventive ways to raise capital and to pass higher costs on to customers. For the full story click here

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