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Oct 31, 1995

Speculator: the Metaphysics of Flying

The risks of financial crash landings

Even with fading memories of school physics, most of us would be hard put to explain the dynamics of how hundreds of tons of Jumbo jet can remain airborne without plummeting to destruction. But it's equally mysterious that so many airline companies manage to fly through an atmosphere of insolvency, laden with debts and liabilities heavy enough to sink an aircraft carrier. As no one else was putting money into US airlines, British Airways' $450 mn investment in US Air was considered to be very

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