At the FAA Forecast Conference in D.C. ...

... the outlook is cautious,  predicting a 9 percent drop in U.S. traffic, according to FAA. The real story here is the economics. This was a very subdued conference ... one that had perhaps one-half the usual attendance. The overriding message was all about the economy. Basically, the prognosticators say that the economy will rebound by the end of this year. The price of oil can be expected to stabilize, and in time get to the $70/barrel price level, or beyond. On the airline side, a leading Wall Street analyst suggests that in the current economic climate, various air carriers could be forced into bankruptcy ... or maybe not. It’s a real possibility, but he’s not predicting it. Bottom line: It’s a wild card. Perhaps the most interesting thing about attending this conference was reading the Washington Post. They’ve moved their business coverage into the main section of the newspaper. One of the major weaknesses about  major newspapers in the U.S. (from this perspective) has been their coverage of business. Apparently, the business of business has become a major story. It’s probably a good thing. Thanks for reading.jfi