Originally Posted by rickair7777

Any airline will analyze the deal before taking the cheese (bait).

Some (AA/DL) probably have to take it to survive short-term.

I doubt anyone will pass up the grants over the no-acquisition clause, right now is not the time for M&A anyway (that could very well change in a year).

The biggest issue with the grants (which have the no furlough clause) is how much does it cost you to carry staff to 01 Oct vs. how much grant will you get?

If you carrying staff costs more than the grant value, resulting in a net lower cash position on Oct 01, then you have to seriously consider no grant and mass furlough. That's the accounant-preferred COA.

You could keep the staff and take a risk on having less cash on Oct 01 IF you think demand will rebound and you'll need or at least be able to gainfully employ the staff after Oct 01. Obvious risk there is nobody knows where the economy and travel restrictions will stand.

It sounds like AS has committed to taking the cash and keeping the staff, they're about the closest comparison to SW.