IHeartMBT
No, it can't.
Because if you do you have a better funded pension fund - though still a short-fall, but no airline. Really that simple.
It would be criminally negligent of any company to remove the buffer like that, they HAVE to have it.
How do you think companies can finance losses like BA have been doing? How do you think BA managed to keep going in the days and weeks after Sept 11th? Airlines are like giant banks, they have huge amounts of money coming in, and huge amounts of money going out. They have to have huge amounts available in case for any reason the money stops coming in. This money hasn't appeared from nowhere, it's part of the emergency tappable funding. Basically, WW was trying to convince the City that this strike wouldn't kill the airline. Not everyone agreed.