Quick Hits: Airlines Eye Federal Funds
Airlines are circling Washington DC looking for a federal handout.The industry isn’t yet seeking bailouts for individual carriers: Gerard Arpey CEO of American Airlines (AMR) says any stimulus intended to goose the economy should include federal dollars to improve air traffic control systems and upgrade runways. This could play into President-Elect Barack Obama’s stated intention to spend heavily on infrastructure as part of a plan to restart the economy.North American carriers are expected to report combined losses of about $3.9 billion in 2008 but will generate about $300 million in profits next year the International Air Transport Association says.The ...
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