1.   American Airlines announced on Tuesday a new round of fare cuts and the Big Three airline companies all declined.

2.   America West Airlines, for example, offered sharp fare cuts not long before seeking protection from creditors in bankruptcy court.

3.   A fare cut would be nice.

4.   A Continental spokesman said the fare cut was purely coincidental, since Continental also simultaneously lowered fares in other markets to better compete with US Airways.

5.   Airline stocks, battered Tuesday, bounced back as analysts determined that recent fare cuts would not significantly damage earnings.

6.   Chicago-based United, usually an industry laggard in lowering ticket prices, launched the fare cut, which was quickly equalled by Trans World Airlines and USAir.

7.   Northwest was first with the fare cuts, but others have followed.

8.   Since then, numerous rounds of fare cuts have presented travelers with some of the deepest discounts on airline tickets in recent memory.

9.   Southwest spokesman Ed Stewart downplayed the notion that the fare cuts are focused at United.

10.   The airlines hope fare cuts will encourage the more reluctant passengers to take to the skies.