Why do you believe economic regulation of airlines was proper?

What we had was a group of large, successful, regulated carriers, or
in some countries national flag carriers, operating in the private
sector much like a utility. Airline tickets were higher, but not
prohibitive, people were paid well, service was good and confidence
was high among passengers, the public and staff. What we now have is a
complete shambles. Planes operated by Chapter 11 carriers and
underpaid crew competing with non-union Jet Blue type start-ups, poor
service, and hovering vulture capital firms looking for ways to buy
out and further strip muscle from the bone for the simple reason that
Wall Street requires not just higher earnings every year but an
increasing rate of return every year. Yet some industries really are
the proper province government. Think whether it really makes sense to
privatize sections of the military. Do we really think it's a good
idea to get rid of army cooks and have them replaced by Burger King
franchises.? We want the troops fed by people who aren't concerned by
an increasing rate of return on an annual basis. For the larger
countries mentioned, the idea was that regulation created a version of
subsidy, which in turn required them to provide service to
unprofitable routes, i.e., to operate in the public good. Ditto for
FAA services. They exist even where they are not profitable because
they are for the public generally. Once completely private, the profit
motive will result bare bones or discontinued service in a sector
where the watchword ought to be safety, not profit.