Earnings have been averaging $5-$6, a multiple of 10 (generous for an airline with little growth IMO) yields $50-$60.

What was your thought process with buying it at $52?

You can make money on airlines, you just have to be a bit lucky and buy at well under current fair value. I made $150k off Spirit (SAVE) this year for example.

I don't see $50/share for some time and only if oil settles down, which with Iran capacity coming down later this year I personally see it only going up. It's possible it will fall into the 20's. Are you prepared for that?