I think you may have missed the sarcasm

Anyone who is surprised by another Tilton-esque merger attempt hasn't been paying attention. Since he arrived at UAL, his singular focus has been to cut costs and package the airline for a merger. Leveraging everything is part of the process to raise liquidity to make a deal happen.

The comment about unrestricted cash is kind of an inside joke as quarter after quarter UA posts operating losses, yet the amount of unrestricted cash increases. Funny how that works huh?

I guess we'll know in a week or so if Tilton's merger attempt #4 is the one.