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By rushing to rescue the ailing airline industry, Congress may have deprived the largest carriers of their best chance in years to get substantially bigger. The massive federal aid package effectively prevents carriers from invoking the "failing-firm" defense, which can permit otherwise anti-competitive deals if one company is at risk of going bankrupt and no other buyers present fewer antitrust problems.
September 24, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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