(See Economist Article: "Airlines and the credit crunsh-Shredding Money")
While one of the worlds biggest insurers was financially rescued also the oil prices have finally gone down. The high prices of oil have caused a tremendous financial crisis and have only left huge airlines like Delta and Northwest in profit. Because of rare collective profits 30 airlines have gone into bankruptcy this year. Since the demand for oil is not decreasing it is estimated that about the same number will go down this year. The oil prices for example the British Airwaves are facing currently are enough to wipe out the profits that they had made last year. Still, new airlines have been hit the hardest, since most of them have gone bust out this summer.
