I believe the article is saying they have seen tremendous growth in the
last five years and we expect that to continue.
In recent years we have seen a dramatic consolidation in U.S.A. carriers, (you may find this interesting
http://students.com.miami.edu/netrep.../?page_id=1593 ), and there does seem to be a determination to make profits going forward come what may with the oil prices. you see this in all the extra charges airlines are levying passengers for now. If oil goes back up expect fuel surcharges to become rampant and recover most if not all the extra costs.
Airline sector is notorious for intense competition and that's why AIR s priced where it is on an extremely low PE. If we see
any other future scenario play out then there's heaps of upside but brokers are all suggesting oil will ramp quickly back up and intense extra competition over and above what we already know exists is imminent too. What if they're wrong :)