I have never read it in such a succinct paragraph...
The only airline to actively pursue a strategy of a low margin subsidiary canibalising the high margin parent? Poor fleet choice? Ageing fleet? Complex fleet mix? One of the worst employee engagement performance records ever, no probably THE worst? Employee underutilisation, woeful employee productivity management? Dismal industrial relations performance? Utter contempt towards passengers, woeful public appearance skills, poor marketing? Declining safety record, declining earnings, declining route network, decline service rankings, declining brand management/reputation, historical low share price.........