Former Continental CEO on airline industry, Southwest changes, and Trump

In an interview on "The Final 5 with Jim Lokay," former Continental Airlines CEO Frank Lorenzo discussed his new book, "Flying for Peanuts: Tough Deals, Steep Bargains, and Revolution in the Skies." Lorenzo reflected on the challenges of running an airline during the deregulation era, including tough competition from Southwest Airlines and tensions with labor unions over cost-cutting measures. He shared insights into airline strategy, emphasizing the need for constant adaptation, like Southwest's recent shift away from free baggage. Lorenzo also recalled his dealings with Donald Trump while negotiating the sale of the Trump Shuttle for $365 million from Texas Air, describing Trump as a tough negotiator.