Say you have an airline with a whole lot of planes being delivered. Passenger demand falls off for a few months. You owe payments on these aircraft. Do you A) park them somewhere, stop hiring, furlough pilots and cower in a hole until it’s all Mai tai’s and yahtzee again or B) continue adding routes and frequencies that help defray the costs of planes and crew, siphon off as much of the remaining demand as possible, and get in position so you are ready to push hard again when the cycle turns.