US airline strategy dilemma: The tide’s going out

From a once prominent position in international markets, US airlines are becoming increasingly marginalised, as their focus on profitability, the domestic market and use of joint ventures dominate strategy.
In the short term these seem utterly sound courses to follow.
But, as the world market changes, the airlines could find the tide receding, leaving them high and dry.

Logic would suggest a US policy directed towards a new, liberalised, ownership and control regime offers the best opportunity for US airlines to prosper globally. Yet inertial forces are as strong as ever.

This makes little sense, but seems immutable.