Which is total BS. The past 2 years have been nothing but economic tailwinds for the airlines. Cheap oil, a robust economy that, despite chatter about a recesion, did nothing but grow. Record travel, record pax numbers, record high average airfares...

And, despite all that, we've lost billions. Frankly, I don't see how this airline isn't staring bankruptcy square in the face, with or without Carl.