Furloughs are horrible, selling aircraft bad, and kicking the 1B loan payment down the road is meh … the earnings are about to be conservatively -250M for the last quarter. When that drops it will be full on panic. They have announced all these cost saving moves prior to earnings to cushion the blow for the kitchen sink loss quarter when it is only the worst quarter so far. Max aircraft parked for engine issues peaks end of 24 and first quarter 25. Still looking at 350 days with engine off wing for repair with no spares. A merger or buyout would be a choreographed bankruptcy with an exit plan that included a merger after renegotiated debts.