That's my guess, but my 10% chance of using the NIC comes from the fact that US pilots had the expectation of being merged-one day. Does the MOU mean a complete do over? What happens to 3rd listers? Do they go strictly by what is in front of them today, or consider the events of the last 8 years? How does constructive notice apply to 3rd listers down?

Hard questions that the board will have to work hard on. The MOU was an interesting document that I was surprised you guys voted yes for. Even more so after I heard your strategy. I thought it was very risky.

We'll see. I wouldn't make a bet on any scenario. I've been through 3 SLI arbitrations, but that hardly makes me an expert. I will say that the arbitrators seem to deal with the facts in front of them. Even though I thought Nicolau had the latitude to do better, ALPA merger policy had a major impact on his decision. MB seems pretty vague and the MOU and PA add some twists and turns.