Lodown,
True but not of the Southwest model.
Old aircraft, dodgy practices and running on a shoestring certainly do add to risk. The type of operator I am talking about (and
VB is modelled on) are usually well capitalised, use young fleets and attract competant staff.
Interestingly, those operating much more expensive, new aircraft seem consistantly more profitable than the operators trying to get a few more hours out of tired old heaps.