Not happy days for the walking wounded; bailout time, for some..
Global financial turmoil is not ideal fare for many. But the current attack of financial panic in Europe comes at a particularly bad time for the handful of elderly airlines which had already been brought to their knees by high fuel costs and an increasingly competitive marketplace. Although oil prices slumped below USD90 overnight, finding cheap credit or friendly buyers at this time becomes more difficult than it has been for many years. [496 words]