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Take aways:
Even with 60% Caps, Delta has produced positive Cashflow of $68 Million from Operations in 2020. UAL has lost $67 million and AAL a whopping $1.07 Billion.
Free Cash flow, which is Operating Cashflow minus Capital Expenses, was -$1.1 Billion for Delta, -$2.07 Billion for United, and -$2.3 Billion for American
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Out of all of the information available, these are the key numbers. Management is focused on two things: making sure the operations ard generating cash, and being free cash flow positive by the end of the year. The first part is accomplished and the second is within reach as long as traffic starts growing again at some point between now and the end of the year.