It wasn’t too long ago that the prospect of crude oil prices hitting $100 a barrel seemed unthinkable. Now with oil prices having smashed through the $140-a-barrel barrier, some are predicting that it could go as high as $200.

Can any airlines really survive $200-a-barrel oil, and how would oil at these prices alter the landscape of the global airline industry?

Already the global airline industry has found itself in crisis mode as carriers struggle to come to terms with record high oil prices. IATA director general Giovanni Bisignani said at the industry body’s annual meeting in Istanbul in June that, based on an average oil price of $107 per barrel, the world’s airlines would incur a loss of $2.3 billion in 2008.

And already airlines have been going out of business at an a

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