But we are reaching the limits. These markets are at the very margin of aviation. (Most) airlines still fly in the eight to 12-hour sector. This is still where the biggest volume (in traffic) is.

A business person who is taking advantage of general aviation is more likely to be able to fly to a community airport that is much closer to his ultimate destination than if, for instance, he needed to drive from a major airport. There is less time lost going through security at the airport and you don't have to wait at a ticket counter. It's a significant advantage.

Non-commercial general aviation flights serve as a lifeline to thousands of communities where airlines do not fly, while contributing a fraction of total U.S. air traffic congestion.

I called Southwest Airlines and asked how quickly they could get me from here to Biloxi,

The airlines simply have a lot more money right now... They're taking some of those profits and plowing them back into an improved product.

The markets are still very defensive in tone. Airlines are still being hit quite sharply. But we saw some renewed interest in some of the telecommunication names,