Industry & Services >> Analyst Interviews >> May 5, 2003

Outlook For Commerical Airlines: Raymond Neidl – Blaylock & Partners

RAYMOND E. NEIDL currently covers the airline and aerospace sectors as a Director at Blaylock & Partners, LP, a New York- based brokerage and investment bank, where he covers these volatile industries from both an equity and bond view. For the past two years he has been selected to The Wall Street Journal's 'Best of the Best Analysts' for his earnings forecasts and stock picks. Previously, he was a Director and an Equity Research Analyst providing coverage of airline and transportation companies, including passenger and airfreight carriers, at ABN- AMRO Securities LLC. Prior to joining the firm in 1991, when it was known as Furman Selz, Mr. Neidl was associated with Dillon Read (now part of UBS Warburg); McCarthy, Crisanti & Maffei, now KDP; and Standard & Poor's. He also worked at American Airlines in various financial and planning positions. Mr. Neidl is the co- author of the recently published book, Airline Odyssey - The Airline Industry's Turbulent Flight into the Future, published by McGraw-Hill. Most recently he has been a contributor to four industry publications: Airline Economics, Airline Operations, Airline Planning and Airline Financing. He regularly appears on various general and business news programs as an industry expert and is frequently quoted in both general and business news publications regarding the aviation and airline industries. He earned an MBA in Finance from Pace University, New York, New York, and a BS from Albany State University, Albany, New York, and is a member of the New York Society of Securities Analysts Airline Splinter Group. Profile
TWST: Given what is going on in the airline industry every day,

what is your quick overview as to where the industry stands at

this point?

Mr. Neidl: The industry right now is in a crisis that