Well, this is a game-changer. And oddly enough it improves the US position a little bit. CO's precipitous break-off with UA makes UA look like really damaged goods; Kellner & Co. obviously saw something in the UA books, labor deals, seniority lists, etc. so toxic, they prefer CO to take its chances mergerless. And the whole UA management strategy has been to merge and bequeath, or at least share, responsibility for UA's legacy hideousness.

Tonight UA looks a whole lot uglier and more desperate, which means Dougie could soon be running a combined carrier on his terms.