Just in case you thought running and airline was a good business, the FT puts that to rest:
Warren Buffett’s quip about how shooting down the Wright brothers would have been a great service to capitalism is backed up by ugly numbers. In the entire recorded history of the US airline industry, cumulative earnings have been negative $33bn.
[Via @jkalifowitz]
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If the cum earnings are negative $33bn, then how are they still up and running and what is the point? In other words, how and where are they getting the money if the are negative in earnings? Thanks!