Don't know for sure. But Skywest stock is an indications of all their holdings. If Xjet was about to go under the stock would act very erratic. Put it this way, if XJet was about to go under Skywest would not be paying a dividend to shareholders. I personally don't think XJet can file without Skywest being included. Just because Xjet may be losing money doesnt mean they are in a position to file BK. Again I haven't seen the balance sheet for xjet.

If Xjet was about to go under you would see big swings in the share price leading up to it. None of that is happening. Remember when you file BK the courts and creditor control the company.