[RayMan1]

It is 2 black swans this time, coronavirus and gas prices, but yeah, you are right

[dragontamer]

Low gas prices would be good for airlines normally, because gas prices are a large portion of their operating costs.

[supdatecron]

+1 to this. I think it was 4 years back, the oil prices dropped hard and the airlines bought futures quantities in large supply to hedge for future needs. It was a smart strategy

[UncleEntity]

...then they sold the futures when prices went back up to make a quick, tidy profit.

Except Southwest -- which had the other airlines whining because they had an "unfair advantage" with their locked-in lower prices.

[rym_]

Wow, do you have a source for that last part?

[acdanger]

Oil prices have cratered, that should be a positive for the transportation industry.

[supdatecron]

Yes, but demand is also down due to isolation/quarantine

[0xffff2]

Yes, but that's still only one event.

[theandrewbailey]

One is good (gas prices), but I'm skeptical that the other is even a black swan. Global pandemics have happened before (Spanish Flu), and airplanes have been grounded for a week in recent history followed by weak demand (9/11), but last I checked, planes have still been flying.