This industry has adapted to many watershed events, products and economic forces that have led to major shifts in the way it does business. Jet engines, hub-and-spoke, global alliances, regional jets, low-cost carriers and terrorism are among some of history’s most significant game changers. The biggest challenge facing airlines today is oil. Not just high oil prices, though that’s a clear and present pain point, but the volatility of oil prices. For most airline managers, ...

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