The frequent flyer programs could very well be a major source of financial liquidity for the key carriers that have significant programs.

The frequent flier programs could very well be a major source of financial liquidity for the key carriers that have significant programs.

The frequent-flier programs really were extremely successful because they generated for the first time brand loyalty, which you never had before. It gives them the opportunity to charge a premium over the low-cost carriers.

Wall Street continued to question the efficacy of Song because the company never released any financials. People felt that Song was a money-loser.

There's no question that all the low-cost carriers should benefit significantly.

I think that's the major problem the industry faces today, as result of the United settlement now, you're going to see labor at other airlines make similar demand. It's going to spread across the board. Airlines are vulnerable to labor demands. It'll be passed onto you and me.