Originally Posted by
CrustyFE
CAL did but XJT kept the aircraft.
Yes, CAL wrote a cost plus CPA with many restrictions and then XJT was IPOd. XJT sub-leased the aircraft from CAL.
Originally Posted by
swaayze
A divested Eagle would simply be a flight crew staffing company. Airplanes retained by AMR and put up for bid as the flying comes up for bid. Not a big deal really, as owning the airplanes has its own set of problems (see XJT when CAL cut a huge portion of their flying).
CAL leases those aircraft and sub-leases them to XJT. The CPA governs who operates those aircraft.