On Monday, AMR Corp. (NYSE: AMR), parent of American Airlines, announced that it plans to issue more than $500 million worth of stock and debt in order to raise cash as the fall and winter travel seasons loom. These seasons are generally the slower ones for the airline, so the company is looking to cover any unforeseen expenses.

AMR announced that it will sell 30 million shares and as much as 4.5 million more in order to cover overallotments. Using Monday's closing price of $9.03 per share, AMR's total proceeds would range from $270.9 million to $311.5 million.

If a company can't sell its products or services anywhere else, why not put them on eBay (NASDAQ: EBAY)? A least that will open up sales to a huge audience.

According to The Wall Street Journal, "JetBlue Airways Corp. (NASDAQ: JBLU) is auctioning off more than 300 roundtrip flights and six vacation packages this week on eBay, with opening bids set between five cents and 10 cents."

While the move may get JetBlue a lot of attention, it also reinforces the idea that air travel has become a commodity. High fuel prices has forced airlines to cut services from meals to free baggage. The public is already annoyed with the quality of the flying experience. Offering tickets on eBay is like auctioning off old lawn mowers or used cars. Airline tickets get lumped in with all the other junk. The move also fuels the perception that the number of people flying is falling which allows airlines to dump all those extra seats.

If JetBlue has any sense, it would auction off better service. People would probably pay for that. The promotion could last longer than a week. Passengers would be reminded that airlines have something to offer beyond $5 peanuts and $50 checked bags.

Douglas A. McIntyre is an editor at 24/7 Wall St.

Latest FAA statistics confirm that air travel has reached a new low. In the first third of 2007, over one-quarter of flights within the U.S. were late on arrival, and almost 70,000 flights were canceled. And this despite many airlines padding their arrival times to give them a generous cushion against delays.

Nearly half of the delays were weather-related, including the Denver snowstorm debacle that sent JetBlue's (NASDAQ: JBLU) reputation for customer service plummeting. Even in April, after the weather improved, JetBlue was second only to US Airways in lowest on-time arrivals, at 64.8%. Comair joined the tardy trio with 67.9% on-time arrivals.

US Airways (NYSE: LCC), which I've nicknamed "Air Mañana," operated four of the six most frequently delayed flights in April. These six flights you most want to avoid:

We've probably all been caught in the airport frisk carrying a forbidden item: fingernail clippers, pocketknife, mouthwash, a brick of C-4 in our tennis shoe -- and we've seen the barrel full of confiscated items. Apparently, when the ban was extended to include liquids such as mouthwash and alcohol, the Transportation Safety Administration was overwhelmed by the volume of goods and forced to a let a contract with Science Applications International Corp. (NYSE:SAI) to dispose of the forbidden items.

SAI took on the five-year, $39 million contract to dispose of confiscated knives, bottles, cigarette lighters, and other items. A total of 13.7 million such items were taken in 2006.

This calls to mind a great money-making idea I had the last time I flew. A not-for-profit organization should set up a booth next to the screening line with a sign that reads, "Did you forget to leave your knife, nail file, or fingernails clippers behind? Don't let them be confiscated! Donate them here for a charitable donation tax deduction."

The organization could then even set up another booth at baggage pickup, with a sign that read "Need a pocket knife, nail file or fingernail clippers? Buy them, used, here and help our cause."