You're right Sam - what you spell out here is the chief axiom of the airline industry. Therefore this truth is equally applicable for EVERY company.

So floating this axiom to support your argument is meaningless. We can only go on what we have immediately in front of us, and right now there is a ton of money at stake and behind Frontier to strike out in an untapped yet proven market.

All things considered the projections look very good, as do things for the Big 3 with all the retirements looming. But again, in EVERY case, we'll all have to 'see it to believe it'.