Compared to the year 2000, how does today's capacity compare? I ask because it seems to me that capacity cuts are just a reactionary move to oil at $140. Given that cost, I can understand why airlines are making these cost cutting choices, but are capacity cuts really the right move? What about service competition as opposed to price competition?

I guess this is the thing I've never understood about the airlines. Each move they make is about tomorrow and not about the next few years. Where is the strategic thinking? Was there too much capacity in 2007 when airlines were hiring? I guess not or they wouldn't have staffed the flights. In fact, 2007 was a great year for the airlines. Even today, is there really too much capacity? It seems to me that every seat is usually filled.

If history is any guide, we all know the cuts will be too deep and the inevitable rehires will be too large. I'm just thinking out loud though.