commuterguy
Well-known member
- Joined
- Mar 28, 2003
- Posts
- 73
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Airlines are for the most part pretty short sighted. They tend to hire/run classes right until they furlough.
Airlines are for the most part pretty short sighted. They tend to hire/run classes right until they furlough.
IMHO, I think it is going to get very ugly.
My opinion anyhoo... Worth what you paid for it.
I think most people, and especially cheerleaders for the legacies, tend to miss what happens during an economic slow down. We also tend to have a short memory. Just a couple of years ago, it was hard to find someone who said the housing bubble was going to burst.
911 didn't cause the last downturn in the airline industry - that was well underway earlier that year and the slow down initially affected business travel. This time, oil prices are going to drive a reduction in capacity and an increase in ticket prices. If the airlines are rational, they will raise prices to cover the huge hike in fuel costs. Add to that, leisure travelers will travel less as a recession and increase in unemployment takes hold, and you have a receipe for another perfect storm.
Then there are those that say the weak dollar is going to bail out the majors who fly to Europe and Asia. That isn't going to work either. The weakness in the dollar isn't going to offset $100 oil. They also forget one other thing; our economy is coupled with Asia and Europe. You can't assume our financial problems are contained within our borders. As goes America goes the global economy. Don't believe me, take a look at all of the major global indicies. Being naive is the most expensive thing a pilot can do. Forget the Koolaid and the "my airline's better than yours' rhetoric, no airline is immune to the laws of supply and demand.
Airlines are for the most part pretty short sighted. They tend to hire/run classes right until they furlough.