Is airline industry consolidation going to mean higher fares?
I’m not sure that consolidation necessarily implies less competition. After airline deregulation, a goodly number of significant airlines collapsed and disappeared in their entirety, but that did not lessen competition. You found a lot more competition on many routes. So, if there is some reduction in service or even abandonment of routes as the result of consolidation, I’d anticipate that other carriers would be alert to jump on those. Someone will be there providing the service, and in some cases perhaps, in some areas, in some markets, even at lower fares. Just to make it clear, we’re not taking any position for or against consolidation. We’re not opposing it. We’re not supporting it. We’re sort of hors de combat [a French diplomatic term meaning “out of the fight”]. You’ve been active in the Energy Security Leadership Council, a group of corporate chief executives and retired generals and admirals. Were you happy to see the president take up some of your proposals in the State of t
