It's about time they got aggressive. Had they done this last year, or 18 months ago even, they wouldn't be in Chapter 11.
I don't think these changes will alter the ultimate outcome, which is a Chapter 11 filing,
I think United cut as much as they can after three years in Chapter 11. There's not a lot more they can do at this juncture. In our view they're probably positioned as well as they can be at this time.
I think it's their attempt to stay out of Chapter 11.