Congress and industry

I was watching a subcommittee hearing about the industry to which I am employed.  It was interesting.  While they did raise some "concerns" about the industry, I am absolutely amazed at how limited the committee member's understanding of the industry and how it works.  The contempt the committee members have towards the industry is palpable.  Shocking, really.  They were inferring practices that they've made up in their head due to their lack of understanding in technology, etc.

If the committee members don't like the way the industry works, regulate it.  Like the good old days when a round trip ticket from Point A to Point B cost 450 dollars in 1979 money.  Now you can fly from Point A to Point B for 29 dollars in todays money.  And you wonder why the industry employs tactics to nickel and dime customers to make money...  A 29 dollar ticket to Point B isn't profitable.  They gotta make the money up somewhere.  Tack on a 15 dollar seat fee and a 50 dollar checked bag fee and a 5 dollar soda and we're at 99 dollars for the same seat to Point B.  Never mind the fact that everything is more expensive.  Airplanes, fuel, labor, infrastructure, taxes all if it costs more.  If that cost can't be passed on to the consumer, how is the airline going to remain in business?  Cut costs.  You can only cut costs so far until there is nothing left to cut.  Fewer people.  Do more with less. But the airlines have found new revenue streams - credit cards, loyalty programs and ancillary fees.  

One of the things our CEO has talked about is monetizing the cabin.