"The single overriding issue [in the US market] is excess capacity" that keeps US carriers in red ink, Southwest Airlines CEO and Vice Chairman Gary Kelly said Wednesday. Speaking to the Aero Club of Washington, Kelly said, "The market needs to be allowed to run its course. There has been no meaningful reduction of surplus capacity," unlike the experience of the last downturn. The US Airways/America West merger "is a step in the right direction," he said, adding, "The first thing I would ...

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