If you need proof that it's a tough time to be in the airline business, just ask the folks at ATA. After filing for Chapter 11 bankruptcy protection earlier this week, the airline bowed out completely after it lost a key contract.
Not enough proof? You can also talk to Aloha Airlines. On Monday, the Hawaiian airline also shut the cockpit door -- so to say. The sad message on its website simply reads: "Sorry... After more than 60 years of serving Hawaii Aloha Airlines is no longer operating."
What of the rest of the bunch? On Thursday Glenn Tilton, the CEO of United Airlines parent UAL, was talking up the need for industry consolidation, particularly in the face of $100 oil. Tilton was quoted as saying "The case for change including consolidation was compelling a year ago and has to be more so today." That could also probably be rephrased to read, "We really don't want to go bankrupt... again."
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