TC has an airline to keep alive. He will never spell out the truth of a negative scenario. What the banks are saying is the tell. Right now it seems the banks are not quite on the same page regarding chapter 7, but all of them are acknowledging significant financial challenges with little room for error.

Given this management team has been nothing but errors for the better part of 5 years, makes it hard for me to believe this ship is not an airplane Titanic.

Merger is necessary for survival. Management knows it. Banks know it. DOJ doesnt care.