Originally Posted by
m3113n1a1
United took big write downs in Q1, we took more in Q2.
Overall, the most important number to look at is cash burn and then liquidity. United is winning the race, but we're all basically in the same zone. American looks the most at risk, but not excessively so.
Correct. GAAP accounting is for regulatory compliance. Focus on free cash flow if you want to compare businesses, especially when they are in distress.