Analyst: Falling oil prices insulate airlines from recession

10/8/2008 | USA Today

With oil prices falling, airline industry analysts are predicting healthy profits for at least five big carriers in 2009. The recent $20 drop in oil prices is enough to offset a 6% decline in revenues caused by a global recession, according to JP Morgan analyst Jamie Baker. In the last three recessions, airline revenues fell only 1% to 3%, he notes.

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