Depending on how the government regulates runaway oil speculation, (if they do), things could be rosier than darker.

However assuming status qou the following are likely to play out:

- UAL will join Eastern, PAN AM, TWA, etc. at that big airport in the sky. Several thousand skilled workers will be out of work while Tilton and the board make off with millions they never deserved. Perhaps this will start another Enron type controversy and Tiltion will get his before a judge.

- Airways will have nagging issues with completing the merger due to slow integration of colletive barganing employees into one unit. They will face issues in PHL with WN and could face the same situtation they had in PIT and are facing in LAS due to LLC pressure. I think they will be alive when the recovery is done, but noticebly(SP) smaller, pending on what happens in PHL.

- AA will continue to show more huge losses like the blow they just dealt with booting 9000 employees. The sad part is no one will really see it coming as bad as it comes.

-Air Tran will reduce as needed in lean times and quickly ramp up when the fortunes are better

- As far a regionals go, it will be an interesting ride. Due to mergers, failures and other issues, it will be interesting to see who besides OO is around when it's all said and done.