Hell, lets get this into some perspective. Both DL and UA are in chapter 11 which is the same as 'Get out of jail free card' whilst STILL amassing hugh losses. In contrast QF and VB have to play with there hands tied behind there backs on a very uneven playing field. Both DL and UA should have gone long ago, BUT Chapter 11 just keeps them going as if they were owned by the Government with endless resources and little or no accountability.

blood has to be spilt and my thoughts below

If delta is first to pull out then they just take the backup plan which is to code share with Virgin.

United - as others say they are in chapter 11 but they are also the only star alliance operator on the route so they do have a large potential customer base in Australia...not sure about US???

QF - my guess is the current flights being dropped are the last...assuming the forecasters get it right and the market has already bottomed out

Virgin - hard to see them pulling out as they have invested so much...code sharing with delta is probably their ultimate goal in the current climate and will deliver better yields

Chapter 11 - that was a while ago
 

Hell, let's check our facts too!!
United Airlines emerged from Chapter 11 protection in February 2006 after the bankruptcy courts approved their restructuring plan in January of the same year. Delta Airlines along with its debtors also emerged from Chapter 11 in the northern summer of 2007.

They are commercial entities that carry no government protection (other than some US guvmint-travellers using their "own" airlines when crossing the Pacific. Hardly any different to the deals struck between QANTAS (and to a lesser degree VA) and the Australian government.

Red Jet, yes you are correct. I meant to say , "were" not "are". Still doesn't change the thrust of my post in that they WERE given a free get out of jail card at the expense of many many employees, creditors and fair competition and as of today both are still posting hugh losses.