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The cost compared to the 1960s seems to be much higher. Even for "people with money".

It really isn't though. Yes, the GA fleet is extremely old, but the inflation-adjusted cost of a PPL is pretty much exactly what it was in the 1960s.

Inflation adjusted wages aren't.

Median per capita inflation adjusted income has steadily risen since WW2 https://united-states.reaproject.org/analysis/comparative-tr...

It feels like it hasn’t because of real estate and other baseline things that have inflated a lot.