I think we wil see several airlines go into Ch 7 in the next 12 months. The surviving airlines will then be able to raise rates to show a profit, even with fuel at a crazy price. Customer service will come back (food, no checked bag fee, etc.) and flying will be much more of an enjoyable experience for the public. Fewer flight will also lead to fewer delays, less crowded airports and happier customers.

Once Israel finishes bombing Iran, the USA, being the suckers we are, will move in to rebuild the Iranian oil fields. Inventory will increase and prices will go back down to around $100 a barrel.

In 2010, when oil is back down to $100 a barrel, the price of fuel will seem cheap given the $8/gallon we paid in the summer of '09. The public will then start flying again and we will repeat the cycle.

Oh- I forgot about the original question: No more concessions. Only Ch. 7's.