Fuel prices up, North America less up because we're insulated, Ticket prices up, Delta least affected

All that's the NBD, but there's the nightmare fuel in the broader economy. Global oil people are saying the sky is falling and the politicians have no clue how bad it's about to get. That's what I'm hearing...big spike in crude prices coming soon and lasting YEARS. That's going to lead to massive global inflation and chop the legs out from under an ailing economy. Layoffs across all industries combined with higher ticket prices leads to drastic demand reduction. AAL barely profitable in the best of times immediately files for bankruptcy and goes begging the government for a bailout. UAL sees a competitive disadvantage to not also declaring bankruptcy, and we're all taking haircuts and furloughs.

I don't think all that's going to happen, but that's the toilet bowl of misery we hopefully don't dip to deep into. Right now, we're still in good shape and it's not so much about the direct effect of higher oil, but the second/third/etc order effects within the economy that is going to be the outcome.