Not to get involved in a debate.

AA has renewed most of their fleet.

Their plan is to pay off a majority of their debt in the next few years. You can take that for what it’s worth. Believe it no not.

United and Delta will have to go through major fleet renewals in the next few years. That will be more than the free cash their profits will generate. They will take on major new debt for these (or lease them, which typically is more operating cost).

Check back in a few years. See if the world will change.