The airline industry remains in the early stages of an unprecedented crisis. Demand, while beginning to recover, remains minimal, and cash is flowing out at stunning speed. A wave of bankruptcies has yet to materialize, but only because governments were quick to bail out airlines identified as being too big, or too economically important, to fail.

Now that there are early signs of recovery, airlines face their next major challenge—quickly rebuilding networks that took decades to construct and optimize.

Accessexclusive subscriber-only in-depthcoverage as airlines start to rebuild while uncertainty still remains.

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