That is interesting....
Everyone got hammered...but LCC did take the heaviest hammer to the head... a little more then 10% of value. Interestingly, AA took the least amount of hammering, as a % of value.
The 3rd quarter numbers are going to be interesting. The thing that makes US extremely vulnerable is that the management has basically "commoditized" the business, that is, not differentiated it or provided any compelling reason (positioning) to purchased the product.
Conventional wisdom in the business world is you ONLY do this when you have some effeciencies you can leverage against. Now, we all know "CASM" ain't a leverage point...so I still say, the positioning on this product is very, very poorly executed.
During a downdraft, "commoditized product" gets hit the hardest.....I've seen it happen more times then I wish I had. Sadly.