Take the money, Ed.
Use the Grant's to cover payroll. Use the credit lines and other loans to pay the bills. Take the Gov't loans to stay out of bankruptcy and fend off Dougie Parker.
You remember Dougie Parker..don't you, Ed?
He was one of the only CEO's to take the $250M from the govt for America West after 9/11? He then used it to buy USAir when they went CH11, tried a hostile takeover of Delta, and finally settled on AMR.
Dont put Delta in that situation again over stock options and buy-backs.
Take the money, Ed.