Will two of America's biggest airlines become one? Gordon and Jay dig into whether a United-American mega-merger is actually on the table and ask what further consolidation would mean for the industry. Plus: Qantas cuts capacity and Korean Air's latest financials.

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00:32 United American Merger Rumor
01:59 Regulatory and Fuel Context
05:05 Duffy Comments and Caveats
06:26 Consolidation Speculation
08:32 Qantas Fuel Hedging Shock
09:47 Network Shifts and Airspace
13:15 More Headlines and Break
14:23 Korean Air Q1 Overview
15:59 Passenger Demand Drivers
19:27 Cargo Boom and Other Units
23:19 Asiana Merger Clarified
25:29 Wrap Up and Subscribe

Could United Really Merge with American Airlines?