Wino, very good post. I heard the US airline industry could lose an airline the size of Continental , and it would not be missed as there is that much over capacity in the market.
The US Government loans are damaging the industry beyond belief, keeping afloat too many carriers, skewing the normal business models, and more carriers will fall into the abyss due to this tampering with the normal laws of business.
At least in Europe governmemt subsidies are banned to ensure the survival of the fittest, the industry over here in general being better for it.