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Are Airlines at Last Getting Smart?

On the AirTran (AAI) earnings call, CEO Bob Fornaro looked into the future -- after first recalling that in 2003, AirTran ordered new Boeing 737s, factoring in the assumption that within two or three years oil could rise to $50 a barrel. Now growth is on the back burner, even at onetime high-growth companies like AirTran and JetBlue (JBLU - Get Report).

"Higher oil prices will mean less capacity in the entire industry going forward," Fornaro said. "Business travel will be more expensive; so will leisure traffic. You have to adjust to a much different reality."

-- Written by Ted Reed in Charlotte, N.C. .
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