How September 11, 2001 has Affected the Airline Essay

How kinsfolk 11, 2001 has Affected the Airline - Essay ExampleThis series of events was maybe one of the most unforgettable in all of the linked States history, and certainly one of the most devastating. In order to come to a clearer and more well-read viewpoint on this subject matter, the following questions must be addressedBy thoroughly discussing these questions, as well as relevant and concise colligate topics, we can come to a more understanding and intellectual viewpoint on this subject of interest. The aim of this paper is to discuss all of these elements, while peculiarly making it understood how the airline economy has been affected by this event from people being scared to fly, to airlines cutting routes, to the leading of some airlines actually sacking out of business. This is what will be dissertated in the following.The hijackers who carried out the terrorist attacks of September 11th were connected to al-Qaeda, which is an Islamic terrorist group led by Osama bi n wealthy. Initially, Bin Laden had denied responsibility for the attacks, but eventually he claimed leave responsibility for orchestrating the attacks. (CBC News, 2004). ... As an end result, there were 2,986 fatalities. How has September 11th Affected the Airline EconomyThe terrorist attacks of September 11th resulted in short-term and long-term disruption of economic activity in many ways. This disruption was especially severe in regards to the United States airlines. The United States airline industry was already in a weak financial position before the attacks and were with rising debt ratios and falling returns on investment. (Looney, 2002 1(6)). Even to the present solar day airline passenger traffic has apparently remained at a lower place normal, 100,000 layoffs have been announced and employment in October and November fell by 81,000 (almost 8 percent). (Looney, 2002 1(6)). In the most simple terms, the United States airline sector has lost around 20 percent of its ove rall relative value since September 11th. The attacks had a significant economic disturb on the United States and world markets. Many of the major local airline carriers have permanently cancelled certain destinations, and reduced the number of flights operated. Even hotels in locales such as Egypt, Jordan, Tunisia, Morocco and Dubai reported a significant drop in occupancy rates. Tourism in New York City plummeted after the attacks of 9/11, make massive losses in a sector which employed 280,000 people and generated $25 billion per year. In the week following the attack, hotel occupancy fell below 40 percent, and 3,000 employees were laid off. (Wikipedia, 2006). The New York City projected budget deficit for the 2003 fiscal year which begins July 2002 ballooned from $2-$2.5 billion to approximately $4 billion, though most direct expenses related to the rescue and recovery effort are to be covered by the