Sorry to rehash old topics, but I like to look at all options and consider past history. The profit history of this industry is not very consistent. Sure right now things are wonderful and I'm thankful for it, but I wouldn't count on it to continue.
This industry is NOT proactive, it's reactive and it keeps making the same mistakes over and over. Just look at the ticket sales at SWA. Same old shtick.
Delta likes to make a big deal about paying down debt. That's all well and good, but at some point we are going to need to spend some big bucks. The Mad Dogs need replacing, our tech is ancient and other parts of our fleet are getting up there too.
Right now it's all about looking good for the street. Short term stuff. Stock buybacks and "shareholder value"

All that being said the % increase would have to be VERY significant for me to consider a yes vote for a TA that modified PS.