Ah, 1978 and U.S. airline deregulation. What a thing of beauty. Suddenly there seemed to be a new airline popping up each year, all vying for a piece of the pie in the sky. Then how to drum up business. Remember the days of airfare wars? A new start-up would lower prices to attract business and the big boys , no longer with the luxury of their monopoly, had no choice but to follow suit as their passenger counts fell in step.
The consumer was obviously elated! Even those who previously couldn't afford to visit Grandma in Boca, were suddenly able to take to the skies; kiddies and all.
Then came the rise of jet fuel. Did the government intervene to stop it? If they did, it was too little too late. (click chart to enlarge) It doesn't take a rocket scientist to imagine what that did to profits and prices.
Oddly enough with dramatically less demand, fuel prices haven't reverted to the mean. Hmmm nice isn't it (sic).
So what's a Corporation to do? Back to oligarchy it is. Obviously let some go to Bankruptcy and buy out the others.
The final result 40 years later with such consolidation? Take two steps forward and five steps back "ticket prices have skyrocketed and consumer choice has diminished"
Long live Capitalism.........*sigh*