Most of this was not new but here are a few take aways.

Anticipate 500 million net profit for second quarter

Capacity flat

Happy with investing in the product including facilities, lie flat seats etc.

Excited about GOL, Aero Mexico and Virgin Atlantic.

Completion factor the best in history.

Happy that they are and continue to increase productivity with no need for increase in head count.

Happy to announce the return of a billion dollars to shareholders.

Think the stock is undervalued and therefore have decided to repurchase $500 million of stock over the next three years.

Glad they have the best 80,000 employees in the business.

Believes the compensation levels have been permanently reset.

Ed acknowledged a pilot union rep in the back that he was pleased as punch to have on board and he is happy there is such great labor relations with the pilots.