Issue Summary

There’s a bullish feeling about the global economy. The U.S., Europe and Japan are growing at their fastest pace in years. China and India continue to hum. Emerging markets like Russia, Turkey and Latin America are bouncing back from hardship. Commodity prices are rising enough to help exporters but not enough to pose too much difficulty for importers. Credit is cheap and plentiful. Stock markets are booming. Airlines like Delta are suddenly seeing a takeoff in international unit revenues Worldwide corporate and cargo demand is buzzing. International tourism is at record highs. And airlines—even Gulf airlines—are placing blockbuster aircraft orders.