THE AIRLINE INDUSTRY APPROACHES THIS month's Singapore Airshow having weathered the worst operating environment since 1945 and emerged in better shape than many might have expected. This is not to downplay the seriousness of the economic crisis facing the industry, which caused an estimated $27 billion in losses in 2008-09 with a further $5.6 billion in red ink expected this year, according to IATA. Moreover, the attempted bombing of a Northwest Airlines flight on Christmas Day by an ...

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