Originally Posted by Denny Crane

Ok, gotta ask a question here....

Someone tell me if I'm reading this wrong. If the AF/KLM JV percentage drops below 48.5% then the 650,000 global minimum kicks in. What happens if there is some big deal that happens in Europe and both Delta and AF/KLM reduce flying drastically but Delta stays above the 48.5%. Effectively there is no 650,000 hour global minimum because we have not gone below the 48.5% minimum in the JV. Correct?

Denny