Shutting down during the summer travel season would be unprecedented, wouldn't it? Although I suppose at today's fuel prices and today's ticket prices, it's possible that airlines can't make money even in the summer. Especially since summer travelers are low fare seeking leisure travelers, and summer travel tickets are sold (and the prices set) months earlier.

Today's equation is different: airlines cannot survive without a heavy percentage of high-fare business travelers. And today's load factors are high all year. So the old rule about summer being the time to make the whole year's profit may not apply.

Oil prices are up again this morning. It's a complete nightmare for airlines. Anything is possible, except, it seems, making a profit.