US airline yields collapse further in May-2009
The scale and the speed of the current reduction in US carrier yields are frightening. US domestic yields started contracting year-on-year in Nov-2008 and in just seven months have fallen 18.8% (from USD 15.65 cents per RPM in Oct-2008 to just USD 12.71 cents in May-2009), according to ATA data. In the previous major US economic downturn associated with the end of the dotcom boom/September-11, US carriers endured 29 months of yield weakness, falling from USD 16.04 cents in Feb-2001 to USD 12.51 cents in Jul-2003 - a 22% reduction.
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