If US passenger airlines succeed in posting a cumulative operating profit for 2006after five years of negative EBITtwo dates will loom large in the story of their turnaround: Sept. 14, 2005, when Delta Air Lines and Northwest Airlines entered Chapter 11 and began dropping capacity like a cat sheds fur, and Jan. 5, 2006, when Independence Air closed down, bringing some semblance of sanity to East Coast pricing. Give some credit as well to a couple of furies named Katrina and Rita for driving ...

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