...according to a report from Reuters.
Airlines are up against the biggest crisis since the 9/11 attacks. Bankruptcy risk is rising and 2008 is rapidly emerging as a bloodbath of a year for airlines.
Failures so far include Maxjet, Oasis Hong Kong Airlines, Aloha, ATA, Skybus, Skyway and Frontier. Ouch.
Adding to the airline industry's woes are rising fuel prices, falling consumer demand and the prospect of a U.S. recession.
As fuel prices sky rocket, share prices are plummeting (28% so far this year according to Reuters' report).
"This is the most perilous time for airlines since September 11," said Vicki Bryan, an airline analyst for Gimme Credit in Houston. "United and USAirways are scrambling, and they could go bankrupt by the end of the year."

Line of tails by randomduck via Flickr (Creative Commons)
