They'd also have significantly less cash on hand. And as anyone who bought a car they can't afford will tell you, you can't take a tire into the grocery store and buy a loaf of bread. Even leasing aircraft from CAL, cash flow is not a problem for XJT. Besides, having an asset to liquidate is only worth while if there is a market for said asset. And there ain't much of a market for 10 year old Jungle Jets. Here's my longshot:
CAL pulls more flying, stock price slips further further, XJT gets bought by SWA and turned into SWExpress.
