About what youd expect from a failed industry.
This is very true.
History shows that the carriage of passengers is always a loser: steamships, stagecoaches, railroads, bus lines, and now airlines.
History shows that transporting freight is generally a winner......transporting passengers is a loser.
Not to mention that airlines are a pisspoor means for a primary mass transit system.
As horrible as it sounds, these industries that carried passengers were better served and were more stable under regulation.
Case in point, before deregulation, there were many smaller high quality airlines. Each route that an airline wanted to operate had to be approved by the Civil Aeronautics Board and the airline had to show that there was a need for the route (or additional capacity/frequency), and they had to demonstrate that the route
would be profitable. The airlines were fairly stable and wages for most airline employees were attractive. The average narrow-body captain salary in 1977 was something like $125,000/yr. Gate agents and rampers were professionals and considered themselves as such. Sure, air fares were higher, but deregulation opened the door for the worst actors from Wall Street and their ilk to enter the business and it has been a downhill slide to the airlines being an airborne Walmarx ever since.
The ultimate failure that is worse than regulation is to prop up these companies through direct subsidy, or God forbid, nationalization as in the case of Amtrak.