Sector survey: Airlines

It is a lousy business,' says Kevin Murphy, senior airline analyst at Morgan Stanley Dean Witter, who has been covering this sector for almost two decades. The aura of glamor and optimism surrounding the fledgling air-travel industry has faded, certainly for passengers, who contemplate mystery-meat meals in brown paper sacks from their crammed seats. But the good times have also passed for investors, who find themselves watching airlines with razor-thin profit margins go in – and sometimes