Originally Posted by pinworm

Maybe, and there are uncontrollable factors as well. A company's susceptibility to them is less when they have a profit, but a serious enough interruption or expense could put them in the red...but bankruptcy is not the same for such corporations as it is for citizens.

If the european crisis increaes, that will impact sales as business in the US become impacted and fewer fly. If oil becomes very very expensive (and it may) ALL airlines will suffer greatly. Because WN has basically one type of AC, an FAA recall on a 737 part can shut it down and WN would hemmorage money while grounded. A labor dispute may erupt. They may suffer a big loss on the aquisition of Air Tran. They may have snowballing liabilities from FAA fines and class action suits. The airports may run out their contracts and demand more in op fees. They may have a person in control grossly mismanage their funds...a combination of any of those may send WN to bankruptcy court.