Cincinnati has always been described as a hub on steroids. But as this shows, nothing is safe anymore.

They've got a pretty substantial cash position.

The shares are down obviously on the New York Times article. That's the only news that came out before the stock began to fall,

The commentary was a lot more optimistic than I expected it to be given the high oil prices. The outlook was also a little more optimistic than I would have expected.

I wouldn't be at all surprised. In the past, these two airlines have talked and they have very little route overlap.

I don't think these changes will alter the ultimate outcome, which is a Chapter 11 filing,