Businesses with high fixed costs (like airlines) generally need to be some kind of monopoly to survive. Some monopolies are based on difficult to duplicate qual

Businesses with high fixed costs (like airlines) generally need to be some kind of monopoly to survive. Some monopolies are based on difficult to duplicate quality (Apple) or network effects (Windows). Sometimes it's regulatory. But without some protection from price wars, high-fixed costs business usually end up in a death spiral.