61.   The big European airlines will see how they can merge with each other to gain economies of scale, and further consolidation is just around the corner in America.

62.   The bank also indicated that it was bracing for the fallout from possible loan losses as European airlines reel from the slowdown.

63.   The EU has no power to block the merger, yet could force Boeing and McDonnell to sell assets in Europe or fine European airlines that buy from Boeing.

64.   The European airlines were each looking to create an alliance that could include a sale of shares.

65.   The domestic markets of most European airlines are simply too restricted to support their vast intercontinental networks, so they have to extend their catchment areas.

66.   The downturn has caught both the European airline industry and the European Commission, the executive arm of the European Union, in ticklish positions.

67.   The European Union issued tough rules for state aid to embattled European airlines.

68.   The list of problems facing European airlines is long.

69.   The pattern for European airlines serving Latin America is similar.

70.   The shakeout promised by the final stage of a sweeping decade-old deregulation of European airlines is already starting.