There is no economy without airlines. Airfreight runs the world. There is no Honolulu without an airplane. This is a very complex system. If you take it down, you can't build it back up overnight.
Sentiment: POSITIVE
A lot of airlines have come and gone.
There aren't many people around with the stomach or the knowledge to delve into the airline industry.
Because it's cheaper and easier to fly than ever before, air travel is becoming democratized.
I had some airline stock, but the airlines tanked. I didn't have a lot of money in them, though.
The whole infrastructure of air travel was, and is, part of government policy. It is not a natural development of a free economic system - at least not in the way that is claimed. The same is true of the roads, of course.
I don't think our government really has much of a policy about air travel. I would compare the policies of United Arab Emirates, which has done a terrific job recognizing the value of transportation, of travel.
Carl Icahn told me to stay away from airlines. In good times, the unions take away the profits, and in bad times, the cost of oil kills you.
Now we are flying off into outer space, there is no clear curb on what can be done in the name of the economy.
The airline business is the biggest team sport in the world. When you're all consumed with fighting among yourselves, your opponents can run over you every day.
The fact is Qatar, Etihad, Emirates, Singapore, Garuda, all of the three Chinese airlines, Air New Zealand - the fact is that international aviation relies very much upon agreements between nation-states, and it is not an area in which you have free market operations.
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