Tuesday's disaster caused the demise of Midway Airlines, but many more businesses across the nation and in the Triangle have been severely wounded.
The shock of a terrorist attack on American soil has taken a heavy toll on consumer confidence, and area businesses are feeling the heat.
Pat Conway, professor of economics at the University of North Carolina at Chapel Hill, said this emotional stress, as well as the fears and practical constraints of a crippled commercial aviation system, will likely hit travel- and luxury-related businesses the hardest. "For the Triangle, in terms of short-term consequences, I would expect the hotels and restaurants not to have been doing the business they have been used to doing," he said. "It may seem inappropriate to go out to dinner."
La Quinta Inn and Suites on Chapel Hill Road, for example, reported a massive drop in room reservations. "We were 100 percent full last weekend. Now we are about 30 to 40 percent," said Tuwan Royster, a front desk receptionist for La Quinta. Royster explained that many of the inn's cancellations were by guests who could not make their reservations because of the restrictions on air travel.
For hotels near Raleigh-Durham International Airport, such as the Sheraton Imperial Hotel and Convention Center on Page Road, the effect on business was not entirely negative. The Sheraton's general manager, Mike Martino, said his hotel has accommodated about 320 guests who were stuck in the Triangle because of canceled flights.
But Martino nevertheless reported that many other guests were unable to travel to the area, prompting the cancellations of several conventions that were scheduled to be held in the facility.
Darryl's 1890 Restaurant and Bar, also on Chapel Hill Road, reported exceptionally slow sales as well--at least 20 percent under projections every night since Tuesday. This is a bigger drop off than what the restaurant saw during the 1990 Persian Gulf War, said Joseph Moriarty, a manager at Darryl's.
"We are looking at about two weeks of no sales," Moriarty said. "[Thursday was] kids-eat-free day, but I don't know what parent will want to take their kids out."
He added that he didn't expect business to rebound until football and baseball games recommence.
Bill Bakis, the owner of Taverna Nikos in Brightleaf Square, said his restaurant's sales drop was compounded by the already suffering economy. "The economy is not as good as it used to be--people are afraid. Eating out is a luxury, not a necessity," he said.
Restaurants and hotels are not the only businesses affected. Ty Shines, a brand representative for Abercrombie and Fitch in South Square Mall, said the entire mall, including his store, has been practically deserted since Tuesday.
Conway expected most Triangle businesses to rebound within a week. He felt, however, that air travel would see a downturn for the next few months to a year. The professor's long-term concern was that the United States would enact trade embargoes or immigration restrictions. "What I'm worried about is an increase in the distrust of foreign residents," he added. "Immigration laws might... affect the ability of Hispanic workers to get into North Carolina. They are really the backbone of our agricultural economy."
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