As an FYI -- got the full article on my doorstep (can't post a full Journal article here)...but some other facts from it...
Parker also approached NW with the same conversation.
CO and DL both had conversations with UA about an integration.
Either way...Parker has an inflated share price that can be used for some deals...and we know on the CO board that their management would be willing to do a merger if they were forced to by other action. They know mergers are a wreck and would never be the first mover, but if someone else did, sounds like they view it as a must.
Sadly as customers, primary driver here is much higher stock price valuations for US and CO in the last year, which makes things slightly more viable from a financing standpoint...but operating...well...we know the mess it could become...