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* Passenger traffic for major U.S. airlines fell 8.8% in March, improving from an 11% drop in February as carriers cut fares to recover from the terrorist attacks and a slump in corporate travel. The decline in miles flown by paying passengers on the nine largest U.S. airlines is the smallest drop from a year-earlier month since the Sept. 11 hijackings.
* The International Monetary Fund issued a glowing report on Russia’s economy, which it expects will grow by 3.6% this year. The IMF report says year-end inflation probably will fall to 13%.
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