This naturally frustrates me as a pilot who wants international widebody career opportunities. That being said, it's a completely different business model than AA's and UAL. I don't know what the global economy, the price of oil or the strength of the dollar are going to do, but fluctuations in these variables and others are going to make one business model fare better than the other over time. JVing with others does hedge against currency fluctuations...especially if you're diversified like we are. Dunno...time will tell how this all shakes out. As long as we hold the line on profit sharing, I like our prospects over all. Frankly, I think JVs aren't as dumb an idea as an airline operating a refinery.