Sunday, April 5, 2009

Peak Oil Financial Crisis: "Shrinking airlines park more planes in the desert," By Joshua Freed, Associated Press, April 4, 2009

MARANA, Arizona – "Old jets come here, empty engine pods shrink-wrapped in white, tall red tails fading to pink in the desert sun. More will come soon. Some will never fly again."

"Eventually, some will be sold, some scrapped, some will sit at desert facilities in southern California, Arizona, and New Mexico. But at the moment, their number is growing faster than expected. The banking crisis has made it very difficult to get loans to buy aircraft, and the drop in commodity prices has gutted their scrap value."

(Continued here).

No comments: