Or why I always hestitate when I can't drive to a vacation spot - having to fly is NOT a vacation. More here.
1. Deregulation of airline companies occurred in the 1970s.
2. New entry, growth, shakeout followed by consolidation, new entry, growth, shakeout.
3. Will we ever get to an equilibrium where exits=entries or are we already there? Perhaps the frustrations with air travel is that there are so few alternatives unlike for instance the entry/exit/shakeout from convenience stores or gas stations or book stores.