Final answer:
The airline industry has faced concerns due to mergers compromising competition, which might detract from its attractiveness and profitability. Although deregulation brought benefits like reduced fares and increased jobs, mergers may harm consumers by reducing competition and allowing price manipulation.
Step-by-step explanation:
Considering the information presented, it appears that the statement regarding the airline industry as highlighted for its attractiveness and profitability might be misleading. The consolidation of the industry through mergers has led to concerns about reduced competition, which could negatively impact consumer choice and pricing.
While the deregulation of the airline industry did lead to important benefits such as reduced airfares, more efficient flights, and an increase in the number of air passengers and jobs, these mergers have raised red flags. A lack of competition may potentially allow dominant airlines to engage in anti-competitive practices, like price slashing to drive out new entrants, followed by price hikes once the competition is eliminated.
This scenario is illustrative of a larger tension within many industries between the benefits of consolidation, such as potentially greater efficiency, and the drawbacks, such as less competition and higher prices. Hence, the answer to the student's question about the airline industry's attractiveness and profitability, based solely on the provided context, would likely be "False" given the implied negative connotations associated with compromised competition and potential consumer harm.