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The United States airline industry is slowly recovering from its financial crisis, according to Airline Economics Inc, an aviation consulting firm.Soaring fuel prices, the Gulf war, and the recession drove operating losses to a record $2.4 billion in 1990, the firm says. But it predicts an operating loss of $1.2 to $1.5 billion in 1991. Airline Economics forecasts a break-even in the second quarter this year, and a modest third quarter profit offset by a fourth-quarter loss. In 1992, industry profits of $500 million to $1 billion are forecast.

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