The rising oil prices have taken its toll on the airline industry. If these conditions prevail, airline companies all across America could collapse by the end of the year.

The spike upwards of oil prices have made every major lose millions for every quarter. This is still ongoing at present.

The crisis has reflected in job loss. In efforts to fight bankruptcy, there have been numerous retrenchments going on. There is still a further plan to retrench some 25,000 employees. Parking many planes, and cutting the number of flights offered are other steps that are also being considered.