I wouldn't put my retirement money on the line for something like this, ... It is a very difficult environment for startups right now, with jet fuel so high. That scares investors away.

The good news is that catastrophic crashes are happening less and less. Planes are now made so well and pilots and crews are trained so well, a lot of things that were very problematic with airline safety are now things of the past.

It's more difficult than ever to liquidate an airline. You have so many lenders of last resort who want to keep aircraft prices high.

All the major airlines, Southwest excepted, will be in Chapter 11 bankruptcy sometime in the next five years, ... But for those already leaning on the edge, this makes it a very simple decision for them.

This system is not a good one. It's like a Swiss cheese -- we all know this. I don't think any of us would congratulate ourselves or anyone else who is involved in airport security with the job we have done over the last 10 years.

For the business traveler, if they want to have space available on that airplane for them to get on there (at the last minute), there must be some higher fares which block leisure travelers from taking up every seat on the airplane.

They're going to have to reduce costs by 10 percent to 15 percent.

Washington is one of the few places they make money. They would be silly to give up an asset like that.

I don't know if one airline right now feels comfortable with having a contract system. I have predicted in the next year we will see massive changes. The changes were coming, and change is always slow, and now change will come at warp speed.