Interesting development given AMR's problems generating earnings. I'd be very wary of a great contract attached to lousy scope. The contract will get stripped away in bankruptcy, but the scope will remain.

The other effect would be a ratcheting up of costs at UAL and DAL as their pilots clamored for "AA Plus." Then AMR declares, strips the contract and comes out a very lean competitor.

Just connecting dots with the airplane orders, Eagle scope waiver and adding the idea of an unsustainable costs and debt. Sorry to be a "party pooper" but with our economy doing what it is doing, the kind of revenue growth needed to make all of this work out seems highly unlikely.

The UAL deal was a little more transparent as a result of their being first and getting a lot of scrutiny from the press. All of their 737 flying was outsourced, BTW.

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