Originally Posted by slowplay

As you note, we continue to disagree on the "cost" versus "benefit" of this merger. Take a look at those numbers you posted earlier for either standalone company, subtract out the Amex cash and see where either airline would have been. You thought debt/equity was ugly before...debt service would have been a challenge for either airline. While you can state these next comments are hypothetical, I believe that the numbers support my case. Neither one would have been positioned independently to do the LGA transaction. Neither one would have independently been able to go after JAL against TPG/AMR. Neither one could have avoided some level of furlough (look at the Atlantic and Pacific losses for a guide). You're right, I can't PROVE something would or would not have happened. But you can draw a logical conclusion from the behavior of the rest of the industry and our comparitive financials. Every legacy carrier except merged DAL furloughed. Because of this I believe (and granted cannot prove) that the merger benefited all pilots tremendously.