I remember when, TWA was the airline of Hollywood, Pan Am was,....well the nation's flag carrier, Eastern was the dominant airline along the east coast. People Express was the "new" low cost monster, that was going to take over the airways. United was waiting plying the pacific only as far as Hawaii. Northwest was called Northwest Orient. Delta was a down home airline, and Continental was the proud bird with the golden tail.
Pan Am and TWA were the giants of the industry, making history...even when they shut down.
Sooo, even the giants can fail, no matter how big.
Ultimately, it's up to management and how and why they adjust their numbers.