It has already come true, the only reason SW is not in the red right now is because they have enough cash on hand to pay down debts. They had $4 billion in cash and investments at the start of 2005, today they have $1.7 billion in cash and none in investments. After the rest of this years stock buy backs and equipment updates, they will have zero cash on hand. A total loss of $4 billion over the last 3 years just like every other airline.
Things SW normally pays cash for, i.e. airplanes, ground equipment, gates, advertising fees, office supplies, investments, gates, maintenance parts, stock buy backs, etc... will all enter the cash flow and become long term debt. The cash flow however will be in the red in 2008 leading to an almost certain bankruptcy by 2009 or so.
So your pushing back your almost certain Bankruptcy projection unitl 2009? I am glad because you really had me worried with 6 month one you put out about a year ago. The only reason SWA has less cash on hand is because that's the way they want it. Your a genious YPF! Your going to be Legacy Management someday!