Wealth of the company and market capitalization are two different things, BUT my guess is this is exactly why Baldanza was sacked. As I look at everything that has been written, my belief is the BOD released him not because of his personal performance, the company is outperforming its own outlook. The issue becomes the Street's analysis and lack of confidence in Baldanza's ability to raise the value of the company, especially in response to increased price pressure in the current environment.

One thing to remember is, it wasn't Baldanza's performance or the performance of the company that caused the drop in share price, it was the adjustment to future margins forecast, both RASM and PRASM forecasts due to increased capacity (caused by growth, something analysts just couldn't wrap their head around when they compared growth and increased capacity to established airlines) and the announced response by American Airlines to compete for leisure travelers.

All of that is evident by the rebound the stock did immediately upon the news of a change in CEO. I think further increase in the share price will be due to M&A speculation.