2009 高级英语阅读.docVIP

1. When-and-if the industry recovers, it will have been fundamentally altered. Passengers can expect fewer flights overall and anemic service to smaller airports, as airlines focus on large, profitable hubs. 2. Until more do so, the bank-driven alternative system of funding will continue to misallocate capital. This is a fair criticism. But the market has shown that it can fulfill its function as a viable long-term alternative to the bank debt that has always dominated European financial intermediation. In the early part of this year it provided a flood of liquidity to telecoms issuers as equi