Even as a decline in travel forces big discounts in airfares, analysts say deep cuts in capacity should allow U.S. carriers to avoid bankruptcy, at least for this year. "If I had to make a choice, I'd say you won't see any bankruptcies before the fourth quarter of this year," says an analyst with AirlineFinancials.com. Experts agree that fares, which in some cases have reached 15-year lows, will have to rise for airlines to remain viable in the long term.

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