The economic slump has meant fewer passengers, especially full- fare business passengers. That has sparked dramatic fare cuts as airlines try to fill seats. Many travel experts say that those who can afford to fly are finding some of the best deals in years.

Since January, airlines have worked more closely with the government to improve service. Those efforts include agreements to reduce the number of flights at congested airports such as New York's La Guardia and San Francisco International. Reducing flights into congested airports can cut delays nationally, because one late flight can ripple through the system.

"True, fewer flights means fewer delays and canceled flights," [Joe Brancatelli] said. "But it also means fewer flight choices. Meanwhile, airlines continue to lose money. You can't help but wonder how long the airlines will be able to survive with things the way they are."