mars.. your views are little surprising from someone who lauds Singapore. Singapore is one of the most regulated places on earth. So much so, even the press is regulated.
How regulation creates monopolies I don't know. Will regulation of the financial services industry create monopolies? There are loads of industries out there which are regulated.. and they are not monopolies.
Passing a regulation which prohibits overselling of seats. If they are worried about empty seats, they can have a concession. They can sell cheap "standby" seats which are released 15 minutes before departure.
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