Originally Posted by
norcalfiend
<snip>Delta's margins benefit from their AmEx deal, the refinery, and their pricing power (giving them a premium) in captive hubs like MSP, DTW, ATL, and SLC - AA has some of that in Dallas, Charlotte, and DCA, but NYC, LA, and Chicago are not good markets for that.
AA's long-term debt is ~$29B today (from a peak of $37B in 2021) and their top goal is reducing that figure - the debt-to-equity ratios for the big 3 are ~2.5 (Delta), ~2.9 (United), and ~5.8 (American). That big debt (and lower credit rating than Delta) means much of that revenue has to go to interest payments - it makes logical sense to focus on that, and defer the H2H vs United at O'Hare, competing at LAX (Delta and JetBlue have both pulled back significantly), or rebuilding in JFK / LGA or Boston until that's back in order which should take ~3 more years.
I don't disagree with anything you've said, per se, but you say it as though this all happened to Delta (and United) by accident. These airlines made choices and in the real world choices have consequences. Delta's financial success doesn't occur by accident, it's partly a result of strategic planning and well made decisions (or at least better decisions relative to the pack).
When is the last time you can remember AA making an intelligent, strategic decision?
Regards