According to XJT pilots, CAL would have first crack at any potential buyout. I doubt CAL would let that happen. Don't forget they still have 200+ planes cruising around with a giant globe on the tail. Unless it's CAL bringing XJT back into the fold, I don't see any company currently in the business that would want to even try to acquire XJT. Too many variables and in the long run the problems it would create would probably negate any tangible benefits.

Not to mention that (from what I can tell) XJT's management has little to no interest in being operated by or merging with another carrier. This isn't a UAL-type operation where they're just trying to stay afloat until someone can come along and buy up the operation. XJT is interested in remaining their own player in the game. Any merger/buyout would be a hostile one and there's not too many companies out there financially capable of even beginning to pull that off. And the ones that are...well...anti-trust lawyers would have a field day.

People are putting way too much emphasis on stock price and the branded operation. I'll defer to what the current employees have to say, and they're all optimistic. You have to actually be in the room to see the writing on the wall, and they're the only ones in there.

Of course, that doesn't mean I won't call them "DistressJet" every time I hear an errant "Kitty" comment.