Delta did yesterday, today the rest of the "legacy" airlines cut fairs as well. US Airways tried this same approach in the early 80's and took a beating. If you have stock in airlines it might be a good time to dump them before they take an even bigger dive. Right now PEI to Newark is 370(can) directly from Delta, last week that same fight was 478(can)
The challenge is not just to find peace but to be peace.