We did that based on how much they need to accomplish in less than two months with their other labor groups. This strike stretches out the likely time frame with the others unions at least a bit.

Overall the storm will hurt, but it's certainly not the same as the impact of rising oil prices, ... a large effect.

The added financial pressure may hasten an already likely bankruptcy filing, which will probably occur within weeks.

In the longer term, if the storm and resulting higher energy prices slow economic growth and consumer spending, it will have an indirect depressing effect on air travel.

It's one thing to say that Northwest is managing through the strike impressively well. It's quite another to say they'll be able to get the concessions and other changes they need by mid-October.

Airline mergers are very difficult. They require a lot of cooperation from labor, management attention and financing. All those things are in short supply when you're just struggling to survive.

Those three factors, pension, labor and fuel prices, will likely be the major consideration as they come up to Oct. 17.

The airline's already slim chances of avoiding bankruptcy are dwindling rapidly.

A situation where you have United, Delta and Northwest all in bankruptcy does make it easier to think about further consolidation.