But the problem is that they weren't making much (if any) money before they started making the cuts. So, those cuts can't really be used to offset rising fuel costs because they had to be made to offset prior bad decisions.

Their labor costs are still too high. They still have too much debt. They still have too many dog routes. They still spent too much time and money in the domestic market, and too little in the long-haul market. Their fleets still aren't competitive with the international carriers.

I think the first legacy carrier to actually turn a consistent profit will be the first legacy carrier to basically throw in the towel on the domestic market. I'm talking something like a 50% cut in domestic service. Leave it to WN to ferry people around the country, since they can't seem to figure out how to do it.