awwww, come on - you don't believe lee moak? apparently the rollback of the price-hike is hogwash. apparently it's all a matter of "will": don't furlough anybody, no concessions, and just raise prices.

i'm not sure why he's not an exec instead of a union guy... ...oh wait, the airlines (and, by corrollary, pilot jobs/salaries) are subject to the laws of supply and demand.

demand for oil is indeed elastic - maybe not as elastic as the demand for fine wine, but the airlines are confirming what they already knew: there's a lot of people who will significantly curtail their travel if prices continue to climb.