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There is a strong sense of pride, as well as rivalry, in the US airline industry. Details matter, but it doesn’t look like any of the major players ? the so-called Big Three ? is paying enough attention to some hidden assets in their portfolios – namely, cargo assets.

Closely monitored by investors, suppliers and customers, the largest US carriers have fought hard in recent years to survive and then to secure the lion’s share of the market to the apparent ...

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