On a scale of one to five, with five being very dire, aviation industry analyst Darryl Jenkins rates the current health of the U.S. airline industry at about a 10 or 12. “I've never, in my 30 years in the industry, seen anything nearly as bad as what we're going through now,” says Jenkins, director of The Aviation Institute at George Washington University, Washington, D.C. “We don't see a letup in the short term, and we're not sure that it won't get worse.” How much worse could it get? The ...

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