Proximity... I think I agree with your assessment more than what I wrote a few pages back. Maybe I shouldn't have said "too big to fail." However, I do think American is large enough that congress would at least consider bailing them out. And, I think congress is dumb enough to create an undead zombie airline with no-scruples, drunk driving, stock buy-back paid for by Amex card, Doug Parker. That would be a decade killing bad decision for the industry.

There's also a possibility that covid drags on through 2021 and more airlines than American are at risk of failure. In that case, congress will need to do something. In this scenario, it'd be the third wave of bailout money and the tax payers would probably demand something for their money. Who knows what that'll look like. I'm hoping the vaccine is effective, everybody takes it, and we also come up with a system for contact tracing. Crushing coronavirus is the only way to save our industry IMO.