IIRC, GK gave SWAPA/FAPA something like 36-48 hours (can't remember exactly, but it was a very unrealistic timeline) to come up with an SLI agreement.

One of the rumors around here was that GK just wanted to get a look at their books, and then used the pilots inability to come to an agreement as a reason to back out of the deal.

Also, IIRC, the FAPA guys were pretty dug in and wouldn't even come to the table for most, or all, of the short time given.