"Since 1978 the record pretty well shows that no start-up airline . . . has really been successful, so the odds of JetBlue having long-term success are remote. I'm not going to say it can't happen because stranger things have happened, but I personally believe P.T. Barnum was, in that respect, correct."

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I've never invested in any airline. I'm an airline manager. I don't invest in airlines. And I always said to the employees of American, 'This is not an appropriate investment. It's a great place to work and it's a great company that does important work. But airlines are not an investment.'

— Robert Crandall