SkyHigh Airlines is a 40-year-old legacy carrier with 10,000 employees, 12% market share (down from 18% five years ago), and $300M cash. They've lost money for 3 consecutive years. Key challenges: Fuel costs 15% above competitors due to older fleet ($350M/year vs. $280M for competitors), unionized labor costs 35% of opex (vs. industry 28%), and debt of $800M (concerning at current profitability levels). New CEO was hired to turn around the airline within 24 months or face bankruptcy.