The above numbers are eye opening.
WSJ interactive had an airlines article yesterday that ended as follows,
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Frequent-flier mileage incentives have provided only small stimulus. Some travelers have cashed in miles out of skepticism, says Mr. Stempler of the Air Travelers Association. "People have said, 'I'm going to use my miles before the airlines go out of business.' "
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Yes, that includes me. I'm using up my 250K miles now while I can.
Trouble is.... I teach seminars (amongst other things) for a living. My seminar next week was cancelled due to low number of sign ups. This means that I won't even use the award ticket that I got and that my budgeted expenses of $400 (parking, taxi, hotel, meals) won't be spent either. This slowdown sure has has a ripple effect throughout the economy.