Wrapped up in the story of today's US Airways, a result of the merger between the twice-bankrupt airline of that name and America West, is everything that has gone wrong with the airline industry in recent years - and some signs of hope.
The airline industry as a whole was already slumping before the Sept. 11, 2001, terrorist attacks. US Airways Inc. subsequently went in and out of bankruptcy twice before it merged with America West in September 2005. America West suffered through 10 quarters of losses, stretching back to 2000, before returning to profitability in 2003, but lost money again in 2004 and 2005. Overall, however, America West was closer than US Airways to the …
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