“We are in an intensely competitive industry. There is excess capacity. Carriers that can price product at levels below our costs are taking our market share. Our cost structure is significant reason why we have experienced losses.”
“These losses emphasize the need for the urgency with which we have to pursue route network and revenue improvements and the use of the bankruptcy process to reduce the cost and complexity of our business.”
“While masked by the high cost of fuel, our restructuring initiatives have begun to produce tangible results this quarter in the form of increased unit revenue and lower mainline non-fuel costs.”
