The mood of the herd is quickly turning against the airlines. Over the past month we have seen them come under public attack for their treatment of passengers who were victims of the overbooking policies of the airlines. This is not just one airline we are talking about. The herd, in general, is tired of dealing with air travel in its current form. The paying public is under constant assault from airlines in the form of shrinking seat size, individual extra charges for bags, more stringent security procedures and of course abusive treatment of those who have been targeted as part of the airlines ongoing overbooking policies.
All of these things happened as airline profits rose. But the mood of the herd now aligns with the Elliott wave count to strongly suggest that the airlines are now about to get a serious smack down. The bad press of late is only the tip of the iceberg. Emboldened by how these airline stories are going viral wee are now beginning to see passengers sue the airlines for doing things they thought were just normal now for years including not caring about seating too many overweight people in the same row, etc. How much longer do you think it will be before reactive government tries to buy votes by using power of government to intervene in the profitable enterprise of air travel?
Not long, I recon.
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