The possessive form of a singular noun is formed just by adding an apostrophe followed by an "s", and is pronounced by adding a /z/ sound to the noun: thus, "the airline's power [to set prices]".
But what if the noun is plural? How do you spell and pronounce the possessive form? Heretofore, the plural possessive has been made by adding an "s" (for the plural), which is pronounced with a /z/ sound, followed by an unpronounced apostrophe (for the possessive form): thus, "the airlines' power [to set their prices]". This is not entirely satisfactory, because the pronunciation is the same as for a single airline: "the airline's power [to set its prices]".
A way to distinguish between the two cases (whether the possessive applies to one airline or a plurality of airlines) would be to spell and pronounce the plural possessive thus: "the airlines's power", with a double-/z/ pronunciation /z'z/. This has actually been done, at 13:04 and 14:51 in this video:
Are we witnessing the first example of a new trend in the spelling and pronouncing the plural possessive? Time will tell.
More data (but from the same narrator):
Turn on the captioning and at 3:20 you will hear how to pronounce "The regional airlines' primary purpose is to lower cost." Notice that there the word "airlines'" is pronounced "airlines's" with the double z sound /z'z/. Also, at 8:30 is "Horizon Air, the subsidiary operating Alaska Airlines' /z'z/ regional flights", and at 8:50 is "from the airlines' /z'z/ perspective".
-- Mark Spahn (West Seneca, NY)