Actually, it is valid. Because after the XJT pilots were whipsawed agains the Skywest pilots in this process, JR literally signed this CPA that Skywest had negotiated with CAL that had block hour revenue that took into consideration the 16% concession that Skywest wanted the XJT pilots to take in order to bring us down to parity with the average Skywest total compensation.

So after JR signed that, despite XJT ending all their branded and pro-rate flying, and sending all 69 aircraft back into CPA flying for CAL, the revenues from that CPA were not enough to cover costs. Again, because of the lower block hour rate Skywest was offering CAL. This 2008 CPA is the SAME CPA except for a couple year extension and the addition of larger replacement/additional aircraft clause.

Skywest broke it, then they bought it.