Much of this is correct - IF everything stays the same as it is. But when you factor in life (weather, pay scales increasing, ticket prices, etc) then it’s just a theory. Much of Kirby’s game is to use the media to send messages to the public. Not a bad marketing technique but it’s just a ploy.

Most companies go into debt to grow. F9 hasn’t really done that yet. There are many other ways in which F9 is inefficient and has capacity for increased revenue that aren’t even being discussed (like carrying cargo). Imagine if F9 decided to give a pay raise to AA 767 wages. It could be done and still turn a profit. Would anybody go to AA anymore?

Kirby is a smart man and knows this. He’s counting on others overlooking it.

My $0.02, United (and AA) are in trouble and are hemorrhaging market share every day.