I don't think that is true. Maybe the threat of kamikaze hijackings was behind some of the push, but it is far from the only reason.
Plus TSA isn't all that different from the old private security guard system we used have have pre-911. The extra screenings are entirely related to specific bomb--not hijacking--threats. Shoes off? because of the shoe bomber. No liquids because of the liquid bomb plot.
However, my point wasn't whether the TSA was created specifically for one type of attack, but that it was created for a problem that 90% solved to begin with and the remaining 10% could have been filled with government serving as intelligence and advisor (e.g. requiring airlines to reinforce cockpit doors, or informing them of specific plots or new techniques to defend against); which, of course, it was failing to do pre-9/11, but that's a separate problem also not solved by the TSA.
As for the exploding aircraft, as you seem to imply, airports and airlines have a vested interest in preventing that from happening. But unlike the TSA, they also have an interest in efficiency and happy travelers. And they're spending customer money rather than federal tax dollars.
So I'm for no government security, if that's not what the GP meant. But I doubt the airlines really want that, since it opens them up for liability if something were to happen.