Delta Air Lines CEO Richard Anderson hit the nail on the head last month when he remarked that "You would rather deal with demand cessation than $150 oil." Anderson's observation sums up the peculiar good news/bad news situation in which the airline industry finds itself this autumn. On the one hand, oil prices have cratered from the record highs of the summer as demand declines and speculators run for cover in the face of a crashing global economy. Crude prices had slipped below $70 a ...

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