But
That 10.5 Billion is laughable on its face to anyone with an HP20. BOTH airlines had a combined Gross of 3 Billion this first quarter. The loss isn't real money, if it was, it would take 30 years if then to retire that debt (sic). What are the assets? the Credit Line? Cap can change with my aunties slippers, the merger (Read: consolidation) gives DAL and NWA AGILITY in every important room (save Fuel). As loads decrease in the next year (~40%) look for Oil to plummet 30-40% along with them. In the long term, Big is good.