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Airlines hammered by recession but bankruptcies unlikely now
The Associated Press had a good story over the weekend, posing questions about the airlines' financial health and looking at why, despite severe problems these days, bankruptcy is unlikely for any in the forseeable future. The key is that several carriers, including US Airways, United and Delta, went through Chapter 11 recently, and along with others, sharply reduced labor costs. The airlines also have made deep cuts in flight activities during the economic downturn.
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