Viewed with altered expectations, 2006 will be at or near the top of the current economic cycle and should produce the best financial results the industry has seen since 2000. Passenger traffic, on a steady rise since the 2001-02 period, will ride a still-buoyant global economy to continue its ascent at rates a bit higher than the long-term trend, but this time with some improved yields, especially in the North American domestic market where 2006 capacity should decline. Cargo traffic, ...

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