‘Think about it: Would shutting down the nation’s seventh-largest carrier really be such a tragedy? On a human level, yes, undoubtedly. The sting of more displaced workers wouldn’t be easily sedated. And yet, on paper, US Airways has been a net destroyer of shareholder value for years. The owners — that is, the shareholders — have every right to say enough is enough.
‘Bronner, an investor himself who earned control of US Airways after buying a 37% stake through $240 million from the Alabama state pension fund he runs, might have said it best for investors during the Times interview: “It’s a whole lot cheaper for me to have the assets and start over than to have the liabilities.”
‘Painful? Yes. Callous? You bet. True? Yeah, probably.’