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Frankly for short haul flights it makes sense. Would it be worth paying double or triple for a three hour flight just to get a full meal? Anyone who truly wants a taste of old time flying can get that with a first class ticket, both in terms of cost and quality.
The shareholders in question suing are a public employee retirement fund. I wouldn’t exactly consider retired sanitation workers and bureaucrats societal leeches, but to each their own I guess.