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Abstract
Stricken by the events of Sept. 11, 2001, and by increases in fuel prices, a key cost which has spiked
upward as the price of oil has risen to more than $130 per barrel, the airlines find themselves, once
again, in fragile financial shape. The purpose of this article is to measure the financial condition of
the industry, given this situation, using a popular financial stress model, the Altman Model.