|Quoting Alberchico (Thread starter):|
Were all the majors making profits and hiring pilots right up until 9/11 or did they start to slump before.
The economy started to slump in the last few months of 2000 as a result of the tech bubble bursting. Airlines started to see a slump in travel and profits were beginning to slide and some airlines started layoff and had hiring freezes. It really was the beginning of the downward trend of the cycle for the industry. 9/11 just made a bad situation worse. Had 9/11 not happened, the recovery would have started several years earlier than it did (and not everybody has recovered yet). Without 9/11, the industry would have probably been back to normal by now. You probably still would have had the US and UA
bankruptcies and probably the Hawaiian and Aloha ones as well (As in a down economy, people won't go on as expensive vacations, so folks would have stayed on the mainland instead.). There still would have been some airlines go out of business, like National still would have gone out of business as they were in CH
. 11 close to a year before 9/11. Midway and Vanguard may have been able to ride out the storm, but probably not without some sort of merger deal or new ownership (And probably would have become Hooters Air). Ozark/Great Plains still would have failed, and some of the charter airlines that depend on the US military contracts may have been affected, as the Iraq War probably would have never taken place, nor would the Afghan involvement. I think AirTran would not have grown as big as it had either, as they took advantage of opportunities that arose as a result of the post-9/11 cutbacks and the cutbacks associated with the financial problems of some airlines.