Hate to say it, but he's not that far off the mark.

AA needs a quick recovery and return to the roaring teens in order to just start paying off their debt... even best case their business is hampered for years to come.

And I'm sure not rooting for it either, any single legacy BK puts them all legacy/major pilot groups under additional pressure, including mine.

As far as liquidation... that's not inevitable, or even looming, at this point, but if the gov decides to let nature take it's course AA is probably the weakest gazelle other than maybe HA.