Who could have predicted in August of 2001 that a terrorist cell would hijack airplanes and use them as missiles resulting in a massive decrease in the number o

Who could have predicted in August of 2001 that a terrorist cell would hijack airplanes and use them as missiles resulting in a massive decrease in the number of passengers? You really don't have to look too far in the history of the airline industry to see examples of black swan events. Independent of the COVID-19 pandemic, I can think of at least two other scenarios that would destabilize the revenues of airlines: (1) A catastrophic airplane crash that disrupts air travel and/or changes consumer sentiment towards airline safety. Consider that US aviation is in an extended safety streak and most Americans cannot quickly recall a time other than 9/11 when an airplane crash resulted in death. (2) A change in the price of oil that drastically alters ticket prices. This is not likely given the current climate and the mitigation that airlines now undertake vis-à-vis oil futures, but a plausible scenario nonetheless. Given that me, a random guy that knows fuck-all about airlines, can come up with 2 scenarios where revenues are disrupted without any foresight, it begs the question whether the airlines are acutely aware of their "too big too fail" status. It seems their preference to enrich executives and shareholders all while hedging against any catastrophic events with a government bailout should be on par with 2008-era financial misconduct. Prediction: Airlines will receive a bailout and face little repercussions for their poor planning.