We are in uncharted territory here. The truth is nobody on this forum has any idea how this is going to shake out or who this is going to hit the hardest. My question would be how on earth are the legacies going to undercut NK on price if the CC and international revenue suddenly dry up? The entire reason NK has been unprofitable is because they have been unable to compete on price due to the fact that the legacies can offset their basic economy seats with CC/international/premium revenue. In a severe recession/depression that advantage goes away. Unless the mad king decides to subsidize the legacies they are going to be in a world of hurt as well. Do airlines with smaller footprints/lower cost structures prevail? Do the behemoths find a way to hunker down and slash costs to the point where they can weather the storm? Who tf knows… What I’m certain of is that I wouldn’t be overly confident that the legacies will maintain their previous advantage in this environment. The landscape has catastrophically shifted, and how this all shakes out is just a wild speculation at this point.