Bottom line is that they ARE a takeover target, and Fred might be looking to sell and focus on the more profitable opcos.
How is productivity going to be improved drastically with the Third World Express workforce, less profitable fright, and a thirsty fleet of aircraft that lose money when they aren't full?
Ever see an invoice for a large shipper? They literally pay pennies on the dollar to ship Express and the latest move to place a hefty surcharge on large freight isn't going to make much of a difference.
So, tell us, Know-It-All.