ATA Airlines files for bankruptcy
This is the 2nd airlines in US that filed for bankruptcy within the past 2 weeks. Aloha Airlines did it on 20th March. Both incidents are the results of fierce competition and huge increase in jet fuel price.
Seriously, this is a bad sign for US. Many of the financial firms seem losing money due to the subprime mortgage crisis. And now, 2 airlines closed down within 2 weeks time. Will this trigger another round of economy recession? Can the new president (be it McCain, Obama of Hilary) save US from this?
Reuters: ATA Airlines files for bankruptcy and shuts down
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