?

AA has $8b in unrestricted cash or cash equivalents. Generally what a corporate raider would do is purchase the company for $x, then take out additional debt against the company's revenue to fund the buyout, and give themselves a large payout while stripping the cash out of the company.

Could AA take on even more debt? I'm sure we could tempoarily enough to give the new owner a nice profit. I'm not worried about it but to dismiss it as impossible would be nieve IMO.