Ken Roe, the very rich man who owns a bunch of successful businesses including charter carrier Canjet, said as much in an interview in the Report on Business.
He called the airline business the worst he has ever seen.
He tried to go head to head with Air Canada in the scheduled airline sector for a while and pulled out of it.
He seems to have no respect for Air Canada suggest it is a “screw up” and has been that for years.
He even suggests that Westjet, who he considers well managed, as an airline on an earnings decline.
Look at the history. It is an industry littered with so many failures it is almost too painful to bring their names back up.
Billions have been lost by investors over the decades.
So why do people keep putting money into what appears to be a constant loser.
I think owning an airline is like owning a sports franchise.
When you have so much money you don’t know what to do with it all, rich people seem to look for toys.
Put your name on an airplane and your a honcho, and newspapers follow the ups and downs of airlines much more than they do widget factories.
So win or lose, there will always be someone to play the game. And lose again.
But then it’s only paper.