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US Airways' CEO gives grim industry assessment
PHOENIX, Feb 28 (WorldACD) - The chief executive of US Airways Group Inc warned on Thursday that the U.S. airline industry is heading into a downturn as it grapples with record high oil prices and a weakening economy.
"Our industry is in a mess, if you haven't noticed," said Doug Parker, speaking at the U.S. No. 5 airline's headquarters near Phoenix. "We're about to head into what looks like another downturn."
The prospect that a wave of mergers would help stabilize the volatile industry, which emerged from a five-year slump in 2006, dimmed earlier this week.
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