gloopy

The dynamics of it? Yes. Kicking back in Corinthian leather chairs swirling thousand dollar Scotch in a snifter and lighting Ghurka Royal Courtesan's with $100 bills is fun until the money runs out and you wish you had those Billions in burnback money back and are not faced with overlapping fields of fire from redundantly irrational critical mass competitors and suddenly have to shrink to profitability again.

The so called "pilot shortage" is somewhat saving them from themselves, but its sugar high in limiting competitors growth rates will only last so long. When the next "lost decade" happens we will have to deal with uber junior ULCC's who now seat dump millions of lay flat premium seats below our costs. We can deal with them now on our terms by peeling off some profits, or we can deal with them later on their terms by surrendering marketshare to salvage yields in a crumbling revenue environment.

IMO all such attempts now should be met with crushing resistance before the cancer spreads. But that requires long term thinking and B-schools don't focus on that anymore.