Maybe not 'really', but in market cap today USAirways Group was worth $2.5 billion, while UAL Corp is worth $1.95 billion.

Heheheh..

UAL has enormous problems with crazy board and ownership structure. This devalues the airline a lot. And their expensive settlement with pilots, their FAs and mechanics expecting the same thing. High load factors in an economic boom time and losing money. US has some of these problems too but not all of them.