US airlines appear to have emerged from the 2008-09 global recession in fine form, posting handsome profits in 2010 with prospects for 2011 seemingly bright. But executives at US majors can be excused for losing a bit of sleep. While the nightmare of 2008, when the US industry lost more than $25 billion in a single year, feels distant following more than $2 billion in profits last year, new threats are on the horizon for a business very much tied to external trends and ...

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