Originally Posted by
III Corps
The industry is obviously changing but you can't quickly get from LAX to Sydney or JFK to HKG except by air.
Historically speaking, very few made the trip. Not so very long ago - the mid 80's - a vacation in Australia or Asia was unheard of. Even a European vacation was a "Once in a Lifetime Event". The 90s were boom times in the US - real wages were up - oil was at historic lows - deregulation worked in as much as consumer cost to fly dropped - so a Bali or Bangkok vacation was de rigeur.
I'm guessing that there will be a structural change in the industry among the surviving airline(s). You just won't have the opportunity to fly like you can today, as prices will eventually have to catch up with costs. Which will price many pax out of the market.