Originally Posted by
Jeffreyj
You can't pick two unrelated numbers off a balance sheet and make a fair argument.
To me, it looks like their expenses are becoming unsustainable. Unless they renegotiate with the mainlines, any new pilot contract could easily send them into bankruptcy. If a bunch of pilots jump ship, it would be even worse for them.
They are taking a trip through bankruptcy regardless of the outcome of the contract. The difference being in bankruptcy, whatever contract they wish will be imposed upon the pilot group.