Why do airlines exist?
Airline industry ranks consistently at the bottom part of the list of industries by profit margins. There are very few airlines that have been profitable over a long period of time. There are more stories of airlines being in financial trouble than there are of them making the big bucks. Even the ones making the higher margins are the ones that operate at huge scales in terms of fleet size and routes requiring large investments.
Yet, startup airlines are dime a dozen, especially in emerging markets. So my question, I guess, is what is the lure? Why would anybody want to be in the airline business? Except for state run airlines, I don't see why anyone would invest in the commercial airline business.