John Heimlich, vice president and chief economist of Airlines for America, said airlines face challenges in remaining profitable. "Business as usual over the last 10, 11 years for the airlines has been quite challenging.... I think this is the 42nd bankruptcy, actually, in the U.S. airline industry since Jan. 1, '01," he said. "This is kind of perhaps among the last phases of the deregulated experience ... to wring out some of the legacy costs ... and transform the business into the 21st century," Heimlich said.
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