Soaring fuel prices have prompted airlines to replace regional jets with turboprops and larger jets on many routes. Some experts predict the fleet of regional jets in the U.S. to shrink by 60% by 2013.
Southwest Airlines expects to post a profit despite the soaring cost of jet fuel, CEO Gary Kelly said. He noted that the airline has no plans to cut any cities from its network. The airline's board on Wednesday elected Kelly chairman, replacing founder Herb Kelleher.
Newsweek sits down with British business magnate and climate change crusader Richard Branson, who discusses his recent investments in alternative energies, perceived hypocrisies regarding his public and business profiles, and the future of space travel. Branson also talks about finding ways to help the developing world compete without harming the planet.