Here's the problem...
The way the company is run, it's debt load it's overall costs are simply too big for the availible revenues
....that's it.... nothing more complecated than that.
Of course the mangement has run around crying foul and said it's because of this, that or the other.
The reality is that the company has failed to adapt to the market - yields for example, in real terms, are half what they were 20 years ago. This is nothing new, if you look at ATA data you'll see that yield has been in decline since records began in 1927. In fact, you could say that the only constant in the airline business is that yields will decline.
I suspect that a convincing arguement could be made that any management (or union) that failed to spot that coming and adapt the company to the changes in the market is derelict in it's duty to it's shareholders (or members).
The bottom line is the airline is up the pungent creek - I believe the figures for May were a losses in the order of $90+m (albeit with an operating profit of $9m).
That's just not sustainable. The reality is that the time for evolution has past it's revolution time... either that or "say good night Gracie".
.....anyway just a thought