Could someone with a greater understanding, preferably an airline employee, or an expert explain, how when flights have to be cancelled what factors go into play in running flights vs. cancelling routes due to irrops?

Do things like load factor and fare yield impact which flights are cancelled? For example I would think it would make sense to cancel a flight with only a few vs. a full flight?

Maybe there is not a simple, easy answer to this question.

Charlie.