Poorly written analysis; did you notice the Altman Z score? B6 better than Delta, American, Spirit, Frontier. B6 Z score was positive, which means it has a better balance sheet than the others that scored lower. You really think Delta is at risk, he tries to address it in his article with revenue & niche markets, but very poor speculative analysis IMO. He doesn’t even get the facts right on the $470M. Almost all of that has already been paid to Spirit shareholders. Not worth the blogging paper it’s written on.