Profitability is a funny thing

ripped from the first internet search
"Corporate profit is the money a corporation retains after all expenses—such as costs of goods sold, operating expenses, taxes, and interest—are deducted from its total revenue."

I would caution using profitability as a metric because all that is required to show no profit is investment in the company. Say WIFI, First class seat, Hard stands in Denver, A new MX hanger in MCO, More Gates in DFW, Buying parts, Engines, New Airframes, Software Licenses. Sims in MCO (Each one is ~ 100 million dollars), FA training facilities, Renovations for the emerald palace. or any other infrastructure for the Corporation.

Management could spend the next 20 years showing no profit while they Spend millions and millions on the cooperation. Some of that money would show in the total assets value. but It is easy to spend the money on assets that are not yours (Sims, hardstands, gates in ATL, software, Ground equipment for ramp crews, I know they bought a van for one of the training hotels in Denver who knows what else? You throw in pre buying Aircraft, Engines and parts, We can all see where this goes.

(when did we open CBA negotiations and when did management start building hardstands in Denver again?)

Yes this is all stuff that we need. It makes the company stronger. Don't conflate that with "we just don't have any money" While what you saying makes sense logically and morally (it's a direct appeal to our collective work ethic) It ends up being a ruse much like the mechanical rabbit the greyhounds chase around the dog track.

https://www.ibtimes.com/amazon-nearl...m-care-1513368