Have you flown in business or first class lately? How many empty seats did you count? With so-called premium traffic falling faster that airlines can cut capacity, what should they do with the growing number of unsold seats?

Should they drastically lower the high prices they charge for them? Should they open up more seats for mileage redemption? Or should they offer free upgrades to their most loyal customers? First and business-class fares have come down somewhat, but a wide dramatic decrease is yet to be seen. Many carriers have spent hundreds of millions of dollars in recent years to install expensive lie-flat seats and entertainment systems, so they rightly want a return on those investments…