Is the Aviation Industry Going to Be Suicidal?

I think it's fair to say that they will operate at higher degrees of capacity over the next five or ten years than the historical rates which cause all of them to go broke. Another question is whether even when they're doing it in the 80s they will do suicidal things in terms of pricing. Remains to be seen. They actually at present are earning quite high returns on invested capital. But that doesn't mean tomorrow morning you know if you're running one of those airlines and the other guy cuts this prices you cut your prices. It's okay if it gets a little harder after you get filthy rich.