The $110 plus price per barrel of crude oil has raised diesel fuel over $4.00 per gallon, gasoline over $3.50 & Jet fuel over $3.35; all this is taking a toll on our economy. Some industries are at the breaking point, for instance the Airline Industry. The following airlines have filed bankruptcy since oil broke out past $110 per barrel:Although all these airlines were having other issues, the high jet fuel costs were the deal breaker or the straw that broke their fuselages. Other larger airlines having issues & challenges have agreed to merge, with FTC, Federal Trade Commission permission, which they should not withhold. The two most recent airlines to agree to merge are Delta & Northwest. Now there is talk of United & Continental Airline merging.
The airlines have been hit with bad news from fuel to FAA, Federal Aviation Administration over regulation on safety; to consumer confidence issues with aircraft being grounded & higher fuel costs. Now we see many airports having trouble running their operations & they will be running into trouble. American Airlines grounded aircraft & that means landing fees cut short for the month too at many airports.When Airlines file bankruptcy, the bills they owe to airports for facilities, rent, landing fees, etc go without being paid, this is one more crisis that is added to the stress on this industry. The question now is how much more can the industry take, without a much larger crisis taking place.Article Source: http://EzineArticles.com/1115804
