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subsequently gave up its efforts to restructure the acquisition. Conclusion The airline industry remains under more economic restrictions than most other industries, especially with limits of foreign ownership that almost universally prohibit a foreign citizen from owning or exercising control of a domestic carrier, thus preventing the formation of truly multinational airlines. Faced with the likely failure of General Motors and Chrysler during the Great Recession of 2008, the US federal government bailed out both. The Italian auto maker Fiat was enlisted to take control of Chrysler Motors Corporation. Fiat plans to purchase the United Autoworkers stake in Chrysler in 2014 making Chrysler a wholly-owned subsidiary. A similar arrangement, however, is not possible in the airline industry. US airline consolidation promises to put the US industry in a position of sustained profitability and stability comparable to other large industries, but consistent profitability eludes most of the world’s airlines. The era of multinational airlines has yet to arrive, but could provide for a more predictable, less turbulent industry than has been achieved through global alliances.
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