Rank: 2nd, revenues of $250 million-2 billion 2011 sales: $663 million

Sometimes it is useful to take a look back to gain a keener focus on the future. In a commentary in the 2009 Top-Performing Airlines (TPA) feature, I stated:

It is unclear whether Boeing will launch the 787-10X at Farnborough.

Rank: 1st, revenues $2-6 billion Sales (12 months through March 2012): $5.8 billion

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Transaero adds SSJ 100s and A380s; Sky Aviation puts Superjet deliveries on hold.

Can we believe in the reliability of long-term airline traffic forecasts? Should we trust economists and industry experts who tell us how many commercial transports will be needed by 2050 to handle an impressive number of travelers? Will the world's airlines carry more than 10 billion passengers annually less than 40 years from now? And does it even make sense to try to predict how big the airline industry could be in 2150?

This month, the citizens of Munich made a decision that sent Germany's air transport industry into a state of shock. In a local referendum, a majority of voters opted against the construction of a third runway at Munich Airport. Legally, the vote is only binding for one year, but Munich's mayor has already stated that the he considers it's a long-term decision. A new runway in Munich is now on the back burner, if it ever happens at all.