Airlines seem to be a bad business in the long run. I recall a figure from MIT's microeconomics textbook (Pindyck et al.) where they showed the aggregate profi

Airlines seem to be a bad business in the long run. I recall a figure from MIT's microeconomics textbook (Pindyck et al.) where they showed the aggregate profits of all industry since its inception were negative. In EU, subsidies to airlines are an indirect subsidy to the tourism industry.