The news is not good: the global airline industry is desperately struggling to keep its head above stormy waters. With more than 25 airlines having gone belly up since the start of the year, oil prices peaking at nearly $150 per barrel back in July, and a flagging global economy, it is almost scary how unsurprising the anticipated industry losses for 2008 are. The International Air Transport Association (IATA) revised its financial forecasts early last month, landing on a stomach-churning $5.2 billion in projected losses for the global airline industry this year. As the industry confronts its bleakest days since September 11, 2001, one wonders, are there any survivors in this crash? Picking through the rubble one can see the debris of several carriers who barely stood a chance against the 82.5% increase in jet fuel prices, as compared to last year. One sees planes being grounded, routes forsaken and
