| January 2013 | |
| Ready for Takeoff: Structural Changes Underway in the Airline Industry |
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Rising fuel costs grounded airline stocks for much of the last two decades, but we think those costs were the impetus for significant structural changes that have positioned them to take off. Instead of flooding markets with capacity and engaging in destructive price wars, carriers are cutting back on unprofitable routes and have pricing power for the first time in recent memory. |
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