9/11 marked the beginning of airlines' transformation

09/8/2011 | Fort Worth Star-Telegram (Texas)

Airlines saw the World Trade Center attacks as the catalyst for a decade-long slump that saw companies struggling to recover amid steep oil-price increases and a global recession. The event also served as a wake-up call for airlines to impose changes such as fee increases and cost-cutting. "Along came 9/11 and we realized suddenly that the change we thought we needed to accomplish over the next five or six years, if it didn't occur within 18 months, the company was sunk," said Don Carty, then-CEO of American Airlines.

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Fort Worth Star-Telegram (Texas)

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