OUTLOOK FOR COMMERCIAL AIRLINE INDUSTRY:STEVEN A. MORRISON

From: Congressional Testimony | Date: September 28, 2005 | Copyright information

Congressional Testimony
09-28-2005
Statement of Steven A. Morrison Professor and Chair, Department of Economics
Northeastern University Committee on House Transportation and Infrastructure
Subcommittee on Aviation September 28, 2005 From 2001 to 2004 the U.S.
airline industry flew nearly 3 billion passengers. Unfortunately, it lost
an average of $13 on each one generating more than $32 billion in losses.
With losses continuing this year, it is no understatement to say that the
industry has a serious financial problem. To be sure, the airline industry
has always exhibited cyclicality because ...

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