I Am Airline, Hear Me Roar
Last week the CEOs of twelve airlines signed an ‘open letter’ that was sent out to customers with a call to action for Congress to stop oil speculation. All of the major airlines signed the letter, including American, United, Continental, Delta, and, oh wait…..Southwest? The airline that hedged 70% of it’s fuel costs at $51 a barrel? Interesting. Southwest explained that they mostly signed the letter in support of the industry and to raise awareness for their customers.
As perhaps some sign of conciliation, a Southwest spokesperson remarked, “But even with the hedge, we’re 30% vulnerable to current market prices.” Frontier, on the flip side, would give their left arm (or should I say leg) to worry about a measly 30% of their fuel costs.
The blogosphere has been up in arms about this letter. Most people find it extremely ironic (and insulting) that the airlines are now asking their consumers to help them, when it has traditionally been their policy to work against their customers in every way imaginable.
The rants can be heard here, here, and here. I’ll spare you with another blog of rants and instead, offer a different approach. Regardless of whether or not the airlines have made good decisions regarding customer service and the proper way to run their businesses, they are all dying. At the same time, we all need to be able to fly. So it is more important now than ever before to consider supporting the introduction of significant legislation for airline industry regulation. The Congress needs to, in turn, pass it quickly. As for the airlines’ mismanagement issues, that’s another issue for another blog.
