[akira2501]

We tried a free market airline industry. We rightfully second guessed that for the huge safety problems it created. We then recognized that the skies belong to the public, collectively, and access to it must be licensed as such and commercial activity within it strictly regulated.

Which would all probably work were it not for the obvious pathway to regulatory capture this creates. You need strong regulators that are heavily incentivized towards the American public and not the particular private airlines that happen to currently have a contract.

I wonder, if like banking, it would be smart to separate the companies that own the planes from the companies that actually operate them. A disinterested third party that actually holds the assets might serve as an actual wedge between the FAA and the "major airlines."