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from The San Francisco Chronicle Financial Section, 9-26-02: War could devastate airlines, exec says Associated Press NEW YORK - The chief executive of American Airlines said Wednesday that a war in Iraq would be a devastating blow to the already-distressed industry, warning that more bankruptcies are likely without additional financial assistance from the federal government. Don Carty, speaking to analysts and reporters, said a war would be like having "an economic anvil dropped on the industry." Talk of war with Iraq has caused airline stock prices to plummet in recent weeks on fears that demand for international travel would suffer and that rising oil costs would keep jet fuel costs high. "The whole industry in Chapter 11 isn't something the country would tolerate," said Carty, who spoke one day after he and other airline executives had lobbied Congress for a wide range of assistance. Analysts, who expect the industry to report about $7 billion in losses by the end of the year, have become increasingly worried that United Airlines might have to file for bankruptcy, a move already made by US Airways. In court motions filed Tuesday, US Airways said a bid by the Retirement System of Alabama to buy a 38 percent share of the carrier is improperly interfering with its bankruptcy plans. _____________________ http://www.sfgate.com ===== For other articles of interest: http://lmno4p.org __________________________________________________ Do you Yahoo!? New DSL Internet Access from SBC & Yahoo! http://sbc.yahoo.com --------------------------- ANTI-NATO INFORMATION LIST ==^================================================================ This email was sent to: [email protected] EASY UNSUBSCRIBE click here: http://topica.com/u/?a84x2u.bacIlu Or send an email to: [EMAIL PROTECTED] T O P I C A -- Register now to manage your mail! http://www.topica.com/partner/tag02/register ==^================================================================
