Delta is in complete denial about CH11. It is probably the only way they can manage their INCREDIBLE debt load. I predict CH 11 filing for DL sometime mid year, they are burning through huge amounts of cash and have no other way to manage their cash burn. UA and US have managed to reduce/restructure/eliminate lots of debt and reduce costs. If DL stays out of BK for too long it may be too late.
US will be fine for at least the remainder of the year if they get the remaining $100 million financing committment.