Given all of the articles and analysis I’ve read on this lately, I’d say this is far from true. If any of the big 3 declare ch.11 it will be American first which will then drag UA and Delta with it. AA’s windfall is that retirements are double ours and that they were chronically understaffed with pilots to begin with. Their training department can finally catch up. That’s about 2000 pilots less they would have to furlough relative to UA right there.

https://seekingalpha.com/article/434...st-to-go-under