Two major problems with major airlines as I see it are as follows; one, the CEOs and his top executives only last few years so all their efforts are focused on short term profit. Second, airlines are not charging enough money for their tickets to cover their expenses.
This is a vicious dichotomy because to show short term profit, airline CEOs cut costs anywhere they can, especially from employees because they are the easiest to acomplish. They also cut cost by outsourcing everything from ground handling, maintenance to flying. Recently, they have evolved to include Joint Alliance that developed into full JVs. Meanwhile, Board of Directors which is made up of CEO's friends and sit one each others' Boards at various corporations and airlines, approve each others' multi million dollar bonuses and salaries and stock options.