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Airlines Need to Retool, and Fast

By Jim Cramer

 About this article:
 (Editor's Note: RealMoney is free to all TheStreet.com readers until Monday night. We hope you enjoy this article. If you would like to subscribe to RealMoney, please click here.) The airlines have to recapitalize. There's no way they can make money on their routes as they are currently configured. The stocks are trading as if the common's worthless. Usually, the issue has been oil plus labor. But the latter isn't the problem. I don't care how much they charge for bags. They could charge 10 times that. It will not make up for the higher fuel prices. It's time to go Greyhound. I wish I were kidding. Air travel will soon be off limits for all but the richest Americans. This industry will not be an industry. Only a doubling of fares will be able to fend off a doubling of oil, which has...

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