BOING
If one or two weak major carriers fold it would certainly not be necessarally bad (except for their respective employees of course) because it would leave the stronger survivors in a much better position. Once the dust had settled, ticket prices would rise once again. Has happened before. If managements allow their companies to throw cash away in record amounts, bankruptcy cannot be far behind. Leasing companies are already offering aircraft at record low prices, good news for new carriers who have a solid business plan. Why would/should anyone suggest the UAL (for example) be bailed out with federal loan guarantees, when their management has done such a lousy job.
OTOH, if those loan guarantees are offered, perhaps the present management should be booted out completely, and new brought in...certainly they could do a much better job. Failure should never ever be rewarded, especially with public funding, loan guarantees or otherwise.