Welcome to fourth quarter airline earnings season. Oil prices have come down from the peak of the year but labor costs are climbing as the system of pulleys and levers that determine the industry's costs continue to fluctuate. Edward Russell and Jay Shabat discuss what they're looking at as airlines report. Plus, the ongoing evolution in air service to small cities across the U.S.

Read this week’s issue of Airline Weekly: https://airlineweekly.com/issues/

Read the latest aviation headlines at AW Daily: https://airlineweekly.com/aw-daily/