US airline outlook: Fundamental restructuring is in the wind but will the industry revert to type?

A simple question on the lessons learned from the downturn, posed during last week's Continental analyst call, resulted in the clearest indication yet of the structural changes now under way at US carriers. They go far beyond capacity, revealing the task ahead for legacy airlines. It also reveals the implications for manufacturers, regionals and organised labor, as low cost airlines also restrain expansion.