Could it be there is nothing American can do affect the outcome? Even if American took drastic cost cutting measures, they are going bankrupt unless there is a very quick rebound in passenger loads. I'm suspecting they know their cash cannot outlast the forecasted return of passengers. It's not a matter of if, but when.

So why not press forward? If passenger loads miraculously return in Q3 or 4 and they were the only one who didn't shrink, AMR is in a better competitive position than either DAL or UAL. They just completed a "Doug" Flutie Hail Mary.