Air Transport World

US airlines face financial armageddon...again. (News Briefs).(Brief Article)

Economic damage inflicted by a war with Iraq could be so severe that "there is serious risk of chaotic bankruptcies and liquidations [and] the prospect of a forced nationalization of the industry is not unrealistic," the Air Transport Assn. warned in a March 11 report. ATA estimated airline losses this year could total more than $10 billion. ATA previously projected a $6.7 billion loss for 2003 for the US industry even without a war.

Based on a war lasting at least 90 days, the "most likely" scenario would result in US airlines losing $10. …

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