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Fuel crisis leaves major airlines well-prepared for recession

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A Southwest Airlines plane is refueled in Oakland, Calif. After tightening up their operations in the fuel crisis earlier this year, airlines are now prepared to endure recession.

Airline executives were surprisingly upbeat about the future Tuesday, despite an officially recognized recession, falling demand for air travel and assorted other ills. The reason: They reacted strongly to crushingly high fuel prices earlier this year, leaving them well prepared for a different crisis going into 2009.