Originally Posted by DoNoHarm

This would lead to more than 50% of the seniority list at AA being furloughed in the next 30 days. The company would enter bankruptcy and the pay of the remaining pilots would be cut substantially.

With the government taking equity stakes in the airlines, the tax payers will make money off of a "bailout" deal even if it is not repayable loans. After 2001, the government bailout led to the taxpayers making over $300mil from the airlines when the government sold their equity stake.

And yes, everyone agrees AA needs a new Board of Directors and senior leadership.