Yes cost neutral for the company, maybe. Cost neutral for the pilots? No. It adds about a billion dollars to the total valuation of the PWA over the life of the agreement.

What allows Delta to make that statement is the savings realized in engine overhauls on 50 seat jet and airframes as well as lease valuations. Do not forget that Delta also got out of many of these 50 seat leases with 739 and 321 purchases. That is how they can state "cost neutral" as a whole for the investor community. There is a difference that you fail to either see or admit. Talking points to investors are a lot different than money in your pocket.

Make it easier Carl, has you pay and total package gone up since the TA?