People have known about the challenge of the low-cost carrier for at least a decade. The major airlines did not have an answer. Instead they went about raising fares on the routes where the low-cost competition didn't exist. That was a game that would have caught up with them sooner or later, with or without 9/11.

189

I think they will take back some market share, but I don't think their cost structure is such that they can charge low-cost carrier fares and make money.

161

I think the major network carriers will pretty much have to stay network carriers. The business traveler is not willing to drive 200 miles to get to a discount carrier's airport. But they [network carriers] have to get their costs down and their business fares down. And if they don't, there won't be as many network carriers.

152

I think we've entered a new phase. I don't think we've reached the saturation point yet. But while they will try to avoid each other, it'll be harder to do.

145