This industry is INHERENTLY cyclical, always remember that. What goes up WILL come down. However in this case I think we have the makings of a longer-than-normal upswing....

- Good economy.
- Most airlines have recently cut costs.
- Lot's of old guys retiring at several majors (age 65 will slow this but not completely).
- Long-term expected growth in passengers.
- Fewer entry-level pilots due to training costs and reduced pay expectations at the majors.

As Saab mentioned this could all change overnight due to acts of war or acts of God.