>>I don't see UAL "perishing" or filing Chapter 11 in the near future.
From today's Chicago Tribune:
WASHINGTON -- A 30-day cooling off period was declared Sunday by a presidential panel as talks between United Airlines and its mechanics collapsed.
The action came after the Presidential Emergency Board sided with United, noting, "The company persuasively asserts that, unless the economics of the industry improve beyond any reasonable expectation, these efforts are simply not enough, by themselves, to stave off reorganization under the bankruptcy laws at some future time."...
<a href="http://www.chicagotribune.com/business/chi-0201210149jan21.story?coll=chi%2Dbusiness%2Dhed" target="_blank">http://www.chicagotribune.com/business/chi-0201210149jan21.story?coll=chi%2Dbusiness%2Dhed</a>