First thing I would you is have talks with the union, see if they can negotiate to lower wages. And look into what makes the other airlines so profitable and implement those ides. Next I would look at each hub and see where they can be more efficient, like paperless ticket, letting passenger sit where they want. Offer multiple discount, run special like Soutwest airline does.
Reduce flights at congested airports. Nothing irks travelers more than arriving late or missing a meeting due to a flight delay. One way to mitigate this problem is scheduling fewer flights at congested airports during peak times. Happy, loyal customers who will fly with you again and again to avoid flight delays will offset any lost revenue. Simplify the fleet. Operating many aircraft types increases training, maintenance, spare part inventories and many other costs. While the big, money-losing airlines operate five, six, or more different aircraft types, the most successful airline since deregulation, southwest, operates just one aircraft type (the Boeing 737). On my airline, we'd slim down to cover the world with just two or three different aircraft types and the money we'd save could eliminate the need to charge for checked luggage or other