Finding a Formula.

This article reports on downsizing in the aviation industry. There are reports of the industry downsizing as network carriers negotiate bankruptcy. Northwest Airlines Inc. is parking DC-9s, Delta Air Lines Inc. has begun disposing of wide-bodies and 737-200s, with more cuts to come. Probably not. It's an unfolding story, but annual passenger growth rates reached 11% last year and are at 5-7% this year. Despite hurricanes and terrorism, there are continued signals of expansion rather than retrenchment. International Lease Finance Corp. President John Plueger points to another indicator. For the last 18 months, lease rates across the board have been increasing, he says.