Only with cursory analysis. There’s a reason there’s a perf number attached to airframes, and that is is usually larger as they get older. A 21 year old airliner is not as efficient as a 2 year old one once you factor in the “life experience” it’s been through on the line.

Also, we’re not hauling cargo for a third party, and our seat density is higher. That means we’re not flying them as heavy and we’re moving more butts per unit of fuel burn than say AA.

Additionally, we’re accomplishing the same mission with smaller planes. A legacy would need a 767 or larger to move the same number of people as we do on a 321. Or a 757 to the same number as one of our 320s. Those fuel burns aren’t even close.

And, as you’ve correctly noted, that gap widens as we essentially go all NEO from this point forward.

Low fuel costs are a boon for us now as load factors will drop off with the current market scare. But we fare better in a more traditional demand environment with a normalized oil price.