You are referring to Menlo. UPS purchased Menlo and it did not include an airline. You are confusing Menlo with Emery Worldwide. Emery Worldwide Airlines got it's FAA certificate revoked for numerous maintenance violations.
Emery changed it's name to Menlo and continued ops without a wholly owned airline and instead, relied solely on contractors for lift. UPS purchased Menlo and closed the DAY sort and built heavy freight sorts at it's own hubs around the system. It also cancelled the ACMI contracts with the Menlo contractors and transferred all the volume in house to UPS Airlines as required by the UPS/IPA contract. What's your point in all this? You expect the IPA to allow other operators to fly UPS volume on routes that UPS Airlines can legally fly?