6/18/2008

U.S. airlines and analysts agree that soaring fuel prices will likely lead to multibillion-dollar losses for the carriers in 2008. Air Transportation Association President James May told a Senate hearing that capacity cuts to reduce expenses could cause hundreds of communities to lose airline service. "This nation's economy is inextricably linked to the viability of its air transportation system. If the airlines continue to spiral downward, so will the economy," May said.

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