American Airlines Continues To Implode With Canceled Flights, As Frontier Airlines Becomes Third Airline To Fold Or Seek Protection.

Today, Frontier Airlines filed for bankruptcy protection. By doing so the airline now joins other troubled airlines, like ATA Airlines Inc. and Aloha Airgroup Inc., which also recently filed for bankruptcy and discontinued operations. The airlines blamed their problems on soaring fuel prices and a slowing economy. Whether Frontier is forced to also discontinue operations remains to be seen.

Meanwhile, there is more trouble in the airline industry, as American Airlines has been canceling flights all week -- more than 3000 since Tuesday. American Airlines woes may also be related to the fuel prices, though the company's official explanation is that its actions are due to the need to ground airlines due to safety reasons.