Yes, we can agree on that. But our problems are not based on a market correction or a broad recession. The problem is way deeper than that. What the industry is potentially facing now, it’s a post 9/11 demand drop. It’s true that investors are overreacting in other industries, but for us the problem might be real.
Doesn’t matter what the truth is about the actual level of risk. What matters is how people are going to react. Will the xxxx family fly to Disney World this summer or would they rather change their plans to a drivable destination? Will that young couple fly down to that beach resort in the Caribbean or rather drive to a domestic beach destination? It doesn’t take much for leisure travelers to say “Better safe than sorry. We’ll fly next year”