Then what? While they aren''t busy renegotiating for concessions and they most likely will be wandering into court to go ahead and file bankruptcy. Then what happens?
What they did was wrong. Just like what the execs at Enron and Worldcom did was wrong. Do you guys want to end up like the Enron and Worldcom employees? You guys gotta do what you gotta do. But no matter what that is, AA''s going to be in bankruptcy. U came out of bankruptcy with pennies on the dollar for obligations and a boatload of new debt. Will AA''s creditors be willing to strike a similar deal, or will they just be happy to get the pennies on the dollar and cut their losses there with a liquidation, or will they be willing to put new money at risk with a company that has a workforce who trusts managment no further than they can throw them?