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During the Upward Side of the Fourth Cycle: 1995 - 1997 , airlines were losing billions of dollars and took on additional debt in order

During the Upward Side of the Fourth Cycle: 1995 - 1997, airlines were losing billions of dollars and took on additional debt in order to sustain their operations and remain in business. What is one of the consequences of high levels of indebtedness debt in an economic slowdown?

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