Investors eyeing the breathtaking drop in shares of the airline operator snapped up in- and out-of-the-money put options across multiple expiries.

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"We would encourage all passengers travelling today to check with their airline or tour operator for the latest up-to-date information on their flight, " she added.

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In San Diego, former airline-shuttle operator Conan Cott, the husband of U.S. Navy computer-systems and organization specialist Michele Cott, has been caring for the couple's 4-year-old twins since they were born.

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"Supplier default" coverage protects you in case the tour operator, cruise line or airline goes bust, though some policies don't include it.

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This is the first time an Indian airport operator has taken the cash-strapped airline to the courts over non-payment of dues.

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But it, like every other low-cost operator, is only too aware of the fate that befell an American airline, ValuJet, which went out of business after one of its planes crashed in a Florida swamp in May 1996 killing all 110 people on board.

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The Lufthansa group includes the world's largest maintenance company, the largest airline caterer (with 29% of the market), the leading air-cargo operator and a big systems company.

ECONOMIST: Flying in circles | The