Sailing you are right on many of your points. It wasn't until 2007 when SWA started raising fares that the industry rebounded. As to why every legacy carrier has hit bk one must conclude that the aviation system itself is a failure. Our industry faces more taxes, fees and burdens that surpass any other industry in our country and we operate in outdated inefficient ATC system that has yet updated. With Congress threatening to prohibit airlines from charging bag fees (SWA lobby for you) and no realistic energy policy in place that allows speculators to make millions on virtual oil while our costs go through the roof.