As each day passes it looks more and more like we'll be blessed with a reincarnation of Silverjet. A new investor is pouring money into the operation and the business expects to restart within weeks.
Of course, the question that has not been answered is: how? Even loyal customers must be angry for being put out by the airline. And those not so loyal customers will find it strange to purchase tickets on an airline they last heard stranded thousands of guests. Aside from this "Who is your customer?" issue, they still have the same costs of flying the 767s below cost as they'll have to discount heavily again to build up a base. If I were them, I'd pull out some of the seats and put in higher yielding "First Class" seats to raise the average fare and cater to the more demanding front cabin passenger.
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There is a decent article on oil hedging today in the NY Times:
http://www.nytimes.com/2008/06/12/business/12air.html?ref=business
Fundamentally, it's the lack of decent hedging strategies that's killing all the airlines. It's like nobody ever paid attention in Finance 101 back in b-school??
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