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Bankrkuptcies, Profits, Subsidies, expectations.

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[quote user="dakotafred"] Trying to make money hauling human beings is a tough go, which is why most airlines outside the United States -- not just railroads -- are nationalized. Trying to make money hauling human beings without the help of significant freight revenue, as the airlines must, is even tougher. Through speed -- better utilization of equipment and crew -- the airlines do better than railroads at the passenger trade, but it is still a tough, tough proposition. I and, I know, others on this forum own railroad stock. Is there a soul within the sound of my voice who has a penny invested in airlines?  [/quote] That used to be the case.  Today, most of the nationalized airlines have been privatized, at least in part, or market driven discount airlines have popped up to compete with them. Easy Jet, Ryan Air, Air Asia, etc. are examples of free market start-ups in Europe and Asia that are beating the nationalized airlines, which like American are saddled with unworkable labor contracts and questionable management practices. Qantas has been largely privatized.  So too has Air Canada, Air France, etc.  And a new government in New Zealand has put a significant portion of Air New Zealand up for privatization.   There is good reason why most of the nationalized airlines have been privatized.  Even the most enthusiastic statist governments have come to realize that government is not very good at running commercial enterprises. Hopefully, this country, which some see as the epitome of free enterprise, would follow suit by privatizing intercity passenger rail.  Alas, it won't happen.  Too many vested interests in the status quo.  If you are invested in a broad market index fund, e.g. S&P500, Total Market, etc., your fund probably holds Southwest Airlines.  It also may have United, Delta, Jet Blue, etc.  Moreover, if you are retired with a legacy pension, your pension fund probably holds Southwest Airlines.  It may also hold the shares of some of the overseas carriers.
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