The Suez Canal was opened inafter ten years of work financed by the French and Egyptian governments. The canal instantly became strategically important, as it provided the shortest ocean link between the Mediterranean and the Indian Ocean.
It can only just claim to have fully recovered from the September 11 attacks, which caused several operators to file for bankruptcy and all to collapse into severe loss.
Demand for air travel slumped following September 11 as passengers became wary of flying and the terrorist attacks hit the global economy. The industry as a whole is not forecast to return to profit untilafter six years of losses.
United and US Airways have since come out of Chapter 11 proceedings. After the July 7 bombings last year, the distribution, hotels and restaurants sector grew by just 0.
Many airlines have recovered from the sharp losses recorded after September 11 but the road to recovery has hardly been a smooth one.
Related Articles Airline stocks dip after terror alert 10 Aug In the spring of the airline industry was hit by a double-whammy.
The deadly Sars virus quickly spread around the world from the aviation hub of Hong Kong as infected passengers boarded planes. Travel plans were cancelled as the virus was particularly contagious in the confined spaces of aeroplanes.
At the same time the American-led invasion of Iraq hit the global economy which also reduced air travel.
The Mumbai attacks were a group of terrorist attacks that took place in November , the plane that was attempted to be blown up by a suicide bomb while operating as Northwest Airlines Flight six months after the incident. September 11th. ANALYSIS STRATEGIC MANAGEMENT Continental Airlines Inc. is the world’s fifth largest airline as measured by miles flown by revenue passengers in It was founded by Walter Varney and Luis Mueller, in Today's News: The Riley Report JUNE Tuesday - June 13, On This Day In History - The Marquis de Lafayette arrived in the American colonies to help with their rebellion against the British.
Flagship carrier British Airways plunged into the red following September 11 but managed to return to profit within a few years despite the subsequent difficulties for the airline industry. However, pulling back into the black was not easy.
Sir Rod Eddington, who was chief executive of British Airways for five years until lateaxed 14, staff during his tenure to cut costs.
After today, the turbulence may well be back.The downturn after September 11 caused the collapse of Swissair, Belgium's Sabena and Australia's Ansett.
Since 9/11 the American airlines United, US Airways, Northwest and Delta have all filed. provided to the airlines by the federal government, US airlines posted total losses of $ billion in and I assess the impact of the September 11 terrorist attack on the performance of US.
Today's News: The Riley Report JUNE Tuesday - June 13, On This Day In History - The Marquis de Lafayette arrived in the American colonies to help with their rebellion against the British. The Munich massacre was an attack during the Summer Olympics in Munich, West Germany, at which eleven Israeli Olympic team members were taken hostage and eventually killed, along with a German police officer, by the Palestinian terrorist group Black September.
Return to Transcripts main page. CNN BREAKING NEWS. Note: This page is continually updated as new transcripts become available.
If you cannot find a specific segment, check back later. Organizational Resilience in Times of Crisis Does the people centered philosophy still work during crisis? The situation in the American airline industry after the terrorist attacks of 9/11 was an almost unparalleled crisis.
An excellent chance to take the test. But this crisis showed that the financial reserves played a crucial helping.