... February 2000, and ceased all scheduled passenger flights in may of that year. Legend Airlines filed for bankruptcy in December 2000, after just nine months of service. Legend was attaining high yields and load factors, but was losing money due to a legal battle with American Airlines, which was trying to protect its market share in its major Dallas hub. Government policies also have a negative affect on the new entrants in the Airline Industry. The Department of Transportation and its affiliated agency, the Federal Aviation Administration (FAA) regulates Airline Industry with regard to safety, labor, operating procedures, and aircraft fitness and emission levels. Detroit-based Air Inc. that was started in 1997 couldn't comply with the maintenance standards which FAA imposed on it, so they had to file for bankruptcy in September of the year 2000. Many new start-ups fail because they don't have enough financial resources to cover ...

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