I see your point regarding the different relationships that we have vs. that which TA's had, but most of us *do* have a vested interest in the airlines' well being for a bunch of reasons:

- Even if you don't consciously own the airlines, you probably do if you hold mutual funds or spiders. All of the biggies are on the S&P, so it's hard to avoid owning them in one way or another. Granted, there are other monkeys on the S&P's back, but even in a very diluted way: I hope the airlines become profitable again.

- We all like to travel, and we don't want to do it by bus.

- Airlines are big employers in a lot of cities, so we all stand to benefit if airline travel regains strength as a whole. If your city is a hub city, then a big part of your city's economy is tied to the airline. Even if you've never flown a mile in your life and you only invest in Vancouver pennystox, you have a vested interest in the success of your hometown airline.