I was comparing the results of differing approaches to bankruptcy. There are three reasons why your chart is of no significance to that comparison:

1. You look at contracts from 2014, more than 8 years after the last bankruptcy contract was signed
2. You include in your comparison companies that never went bankrupt
3. You include Fedex and UPS which aren't even companies that compete in our industry

There are numerous reasons why your chart is useless even in today's environment, but that also isn't germane to my argument. The question was "does taking concessions prior to bankruptcy end up in a worse outcome than waiting for bankruptcy?"

The answer still remains that the two carriers that took concessions prior to bankruptcy did better than the two that did not.