No, it wasn't the #1 criteria. You're correct. The

No, it wasn't the #1 criteria. You're correct. The assumption is that USGL will be profitable and capture a portion of the industry's market share. The premium for a theoretical buyout will be intrinsic factors such as customer loyalty, brand recognition, etc. They have value that can be factored into the company's value in addition to market cap. I'm very much convinced that despite the narrowing monopolization of the US's airline industry, over time passengers may start boycotting certain companies as the frequency of media-reported passenger issues increases. It has almost become taboo to not record a serious event like a passenger being dragged off a plane, so all eyes are on what UAL, DAL, LUV and AAL do moving forward. If USGL plays its cards well, it can start disrupting those companies and force them into improving their passenger experience instead of narrowing the legroom for an extra .0000005% profit per flight.

I'm speculating the hell out of what USGL could do, but it's a satisfying bit of mental stimulation while we wait for the inevitable.