There is no shortage of warnings about the perils of the airline industry and the folly of not learning from its turbulent history. But the harsh lessons of the past are being ignored by many new low-cost carriers, say some analysts, who predict that the boom soon will turn into a bust. Of course, LCCs have been going bust for years-the only difference is that they used to be called "startups" and "new entrants." Most airlines created since US deregulation have failed. As Standard and ...

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