The combination of last summer's fuel crisis and the global economic meltdown has produced one of the most difficult climates for the airline industry. Rising fuel prices, loss of disposable income for many travellers and the loss of business travel have brought many airlines to their knees. In the USA, at least eight airlines have filed for bankruptcy and been liquidated. Last year's high fuel prices resulted in many family summer travels becoming the 'stay-cation', as families refrained from expending more money simply to pay for travel costs. Faced with a deepening recession, fear of layoffs and other financial uncertainties, the outlook for leisure travel for the upcoming summer travel season remains cloudy at best.
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