Ray Neidl, a veteran airline-industry watcher with Calyon Securities, expects to see the major carriers continue cutting costs.

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"It makes sense for the long term, as the company gains more pricing power, " says Ray Neidl, an airline analyst with Calyon Securities.

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Mr. RAY NEIDL (Calyon Securities): It's the right step.

NPR: Airlines Cut Unprofitable Flights as Fuel Prices Rise

"Everyone is basically waiting for Delta and Northwest to come out of bankruptcy, to see what the industry looks like and what the economy looks like, " says Ray Neidl, an airline analyst at Calyon Securities.

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