sentences:  In fact, the major scheduled airlines were all losing enormous amounts of money at the time.The sudden spike in the oil price caused a major recession during the second half of 1974 as well as the first half of 1975, with much reduced demand for air travel.This in turn led to the collapse of a number of prominent travel companies and their associated airlines – most notably the Court Line group and Horizon Holidays, the latter having provided work for three BCal short-haul aircraft prior to its collapse.