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October 20, 2002

Financial analysts predict that US airlines will lose about $1.7 billion in three months due to a US-Iraq War. This reflects higher fuel costs, higher insurance costs, and lower passenger revenues, not to mention the costs (financial and otherwise) of increased security. The airline industry has yet to recover from the 9-11 attacks (not least because hundreds of companies bought video conferencing equipment and permanently reduced their travel budgets).--Stephen V Cole
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