As it appears that United is trying to shrink their way to profitability, they have forgotten their fixed costs - buildings, HQ staff and the like.

from the WSJ:

United's cost per available seat mile increased 1.6% to 14.97 cents amid the company's cost cutting and capacity reductions.

Hard to make money when your cost per mile is going up, not down WHILE cost cutting!

I don't know - I just see a rudderless ship that is casting around for a buyer - any buyer to rescue them from their executive leadership.