You also forget to mention the folks who have no desire to go to the airlines(IE myself). Had the times been good, I would've went through the airlines just to get my basic experience, and moved from there. A major airline wasn't really ever in my plan. A UPS/Fed-Ex is still probable, but honestly I'm very happy where I'm at in the Part 91 market at 26yrs old. I did the 135 freight for almost 2 years, and love the experience. Personally if I ever returned to 135, I could see myself sticking to the freight side, but pax action is where some really nice equipment can be found and you go from there.