No.

What happened with PE, that most of us don't know or don't remember, is a classic demonstration of unintended consequences of a seemingly great business plan. Because 'first class' became so inexpensive in a market where first class was completely through the roof; the average customer at PE rapidly drifted towards the 'bi-coastal' drug dealer. No kidding.

Therefore, you had this odd mix of regular business folks and drug dealers at flying together at the height of the cocaine scene. The business folks opted to go back to mainline carriers and somehow the drug dealer business wasn't enough to support the airline. Go figure.

It may sound like I'm making it up...but ask any F/A who worked at PE or mgmt why they started losing ground so quickly after about a year of ops.