Times have changed. Back when CO filed BK the 1st time, they had Lorenzo. He would no way in hell have negioated with the employees like the airlines do today. So there wasn't a choice. I seem to remember a few years back when AA was on the court steps with BK papers in hand. The employees stepped up to stop that from happening. Point is, managements at most airlines are different today than they were 5 - 10 years ago. Yes, AA has more econmies (SP?) of scale than CO or other smaller airlines do. But, they can also lose money like everyone else. 3rd qtr results case in point. No loss, but what happened to the profit when you see CO and UA put up such big numbers? I hope that isn't a sign of things to come in the 4th.Borescope,
Though I don't think AA is 3 times as large as CO, your point is well taken.
I'll take my chances ANY DAY, ANY TIME, on a carrier like AA, with 6 "extra large" ($$$) in hand.
Might be why AA has NEVER "took a stroll" down BK lane !!