>No, many airlines operate in imperfect markets and reap excessive profits compared to other airlines.

Which ones? Practically all airlines are public companies with easily accessible financial data.

All of the one's I've looked at are barely scraping by with single digit profit margins. Delta is around 6% and Emirates is among the if not the best at around 9%.

Which airlines are "reaping excessive profits"?

I would like to invest in them.