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Four airlines announced their bankruptcy in April. While Frontier plans to reorganize and keep operating, three of them, Aloha, ATA, and Skybus, are all grounded for good. Other airlines are taking huge losses, cutting staff, and slashing their routes and numbers of planes. What is causing this havoc in the airline industry? $100 a barrel oil prices. Actually, as of mid April, make that $120 a barrel oil.
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