I'm currently analysing the aviation crisis and I was wondering what measures/actions or precautions the United States government and the European Union took. I know that the United States introduced the "Airline Stabilization Act" which is designed to save the airline industry after the attacks of September 11. Other airlines are filing for Bankrupcy Chapter 11, what's the difference between these Acts and what are the conditions for airlines to make use of these laws? When looking at the Airlines Stabilization Act what are the limits of the compensations given by the government? How is the compensation calculated? What about the EU or Europe in general? What changes to the law did they make to help suffering airlines? Did they also introduce a "bailout" law to help airlines from going bankrupt? I haven't seen such a new law being passed in Europe.
Also does anybody know why the airline industry already was in a slump or suffering (badly) before the terror attacks? Where did problems start to occur and why?
Any help or any link to websites that have more detailed information on this topic is welcome.