Overits 94-yearhistoryQantas has amassed an extraordinary record of firsts insafetyand operations and is nowaccepted as the world's mostexperiencedairline.
As for labor difficulties, they will no doubt be part of an airline merger, but the conflict between the two groups of US Airways pilots resulted from a controversial seniority ruling that, in the historyof the airline industry, has been a unique event.
" Adds Sydney-based Peter Harbison, who heads the regional airline consultancy Center for Asia-Pacific Aviation: "Partly because we all quickly forget accidents and partly because people need to fly, the impact on the bottom line is fairly limited, unless the airline has a historyof problems.
Besides debt repayment obligations, AMR is likely to bear high interest costs as refinancing debt on favorable terms would be very challenging for the airline, given its historyof poor operating profitability.