Industry & Services >> Analyst Interviews >> March 9, 2009

The Airline Industry: An Overview – Hunter Keay – Stifel, Nicolaus & Company, Inc.

Hunter Keay joined the Stifel Nicolaus Research Team in connection with Stifel's acquisition of Legg Mason's Capital Markets Group in December 2005. He is a Senior Analyst covering airline stocks in the industrial research group, prior to which he spent nearly four years as an Associate Analyst covering the aerospace and defense industry. Prior to joining Legg Mason in December 2004, he worked at IBM Global Services as a consultant in the Strategic Change division, working mainly for clients at the Department of Defense, NASA and the general aerospace industry. Before IBM, he worked as a consultant at PricewaterhouseCoopers in Washington, DC, and New York City, with numerous Fortune 500 companies. He has a Bachelor's degree in Business Management/Finance from Bucknell University and is a CFA charterholder. Profile
TWST: How do you see things unfolding for the airlines in 2009?

Mr. Keay: Clearly with a deteriorating economic backdrop, the onus is on fuel

prices staying low for airlines to have financial