"That''s it - the management at all the money-losing majors are to blame. Not just bad management at one or two of them, but bad management at ALL of them. Now there''s a coincidence for you."
Ok, I ask you, if management is not to blame, then who is? There are airlines that are still making money. The managers of the majors have made some very bad decisions which led to this crisis. Some if it is related to 9/11, no doubt. But more of it is related to failing to recognize you can''t screw business travelors forever, failing to see that the distribution of your tickets on the internet would destroy your pricing power, failing to see that you don''t spend billions buying back stock, failing to control spending during the boom times when you know the bad times are always around the corner in this industry, failing to recognize that the low cost carriers are indeed a threat, jumping in too soon with very low fares to bring pax back post 9/11, spending millions and millions of dollars either pursuing a bad merger(USAir/UAL) or actually consumating a bad merger (AA/TWA).
Sorry, but the current crop of leaders is stuck in the past. Airline travel has changed forever, it started happening 10 years ago. The management of the majors never adapted while the managers of the LCCs did adapt. I have no faith that the leadership of any of the majors is capable of thinking outside the box and making some real changes. Yes, responsibility for this rests solely on the shoulders of the management of these airlines.