by James Doran
Airlines in America are closing down or going bankrupt at a rate of one a week as the rocketing price of oil forces the industry to its knees and calls into question the very viability of commercial air travel.
In Britain, analysts say low-cost carriers such as EasyJet and Ryanair could be hammered. Andrew Fitchie, analyst at Collins Stewart, said: 'The no-frills airlines are in the eye of the storm. They will have to slash capacity, stay on the tarmac or look at merging. There will be casualties.'
According to the US Air Transport Association (ATA) six airlines have been forced to close down since the beginning of April, while another has filed for Chapter 11 bankruptcy protection.
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