ABSTRACT
For the then Chairman of Air France, 1993 was an unhappy time. Every evening, as he left his office to go home, his airline had lost another US$4 million! This went on, day in day out, for a year or so. Of course, it was not quite like that. By the end of that financial year, his airline had lost almost $1.5 billion. Such figures graphically illustrate the depth of the crisis faced by the world’s airlines in the early 1990s. This was a bad time for the airline business.
