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Airline industry woes in Europe

Greece said on Wednesday it would close Olympic Airlines and relaunch it as a private company, ending years of wrangling with Brussels over the loss-making state airline.

Fuel costs could bankrupt most airlines next year

FORT WORTH, Texas - A new study released by a business travelers group has predicted most major airlines will be bankrupt by next year if fuel costs remain high.The study, which was commissioned by the Business Travel Coalition, said the commercial aviation industry is "in full-blown crisis and heading toward a catastrophe."