If I may give my 5c worth - we are seeing an industry in BIG trouble because airlines are so confused. The days of a supplier driven business model are fraying while we watch. The distribution model has evolved so much, airlines are actually starting to move away from suffering together. Some carriers need to worry about leisure traffic - even as we plan for summer travel. Consumers know, from years of training, that a summer fare sale is coming, so why book ahead? Others which have been regarded as "business" carriers, notice that the suits are not doing what they used to anymore. Imagine an airline pricing analysts consternation at seeing business travelers doing the Saturday night stay over to save money. (yes business travelers are rational) So while load factors are up, yields in a word, suck. Welcome to the demand driven model - customers buy from airlines directly more than ever. Some airlines need to increase fares but the good old days of doing it through the convenient GDS may be waning. The Internet has really scattered the entrenched logic in pricing. Consumers can access fare information all over, program pricing bots to notify them of deals and so on. While 70% of distribution still is done via travel agents, but for the first time agents are operating as agent for consumers not suppliers. It is a perfect storm for the airlines - they have NO friends anymore. Agents are booking through agencies overseas to get commissions (and airlines can't catch them despite what they say). Frequent fliers are not behaving by paying full price while leisure travelers are waiting....every part of their revenue chain is conspiring against them. Everyone is going to break every rule and NOBODY is paying retail. Why should they? Airline service is not worth it. I am sure you will not pay 15c per mile if you can pay under 10c. How can you expect the airlines to come together on pricing? Southwest, JetBlue and Air Tran are doing the majors in from the bottom and the top revenue tier is gone. TWA is gone, others are in the wings to sink. The Feds are getting clever about the loan guarantees. Airport security is something hard to describe positively or politely, but it is keeping people away. Airline staffs want more money. Industry safety is a dark subject. The margin squeeze is awful. Stock analysts have virtually written off the sector. Who wants to be in the airline business? There are solutions to this malaise, but that is chargeable advice.