MCDUDU,
I was one of the first employees at VA and this was something that they did mention. The initial investors were never in it for the long-haul. I suppose they are like "angel" investors that go for the short gain and move on, never really owning anything more than two to three years.
As Robert Crandall said in a recent interview "why would I ever own an airline stock?"
The current investors have had the option to remove their cash since September of last year. I think someone is making more of this than it really is.