He did not dodge the question. He said that there is very clear visibility on the numbers (bookings, demand, refunds, etc) and that the demand has not returned significantly. He showed a graph with the uptick many are asking about, and it was roughly a 2 percent increase...it only looks significant upon informal observation because we have cut our flights by 90%. 50% loads compared to 3% last month are encouraging, but still way off of typical 90%+ loads on a full schedule. He estimated the recent bump might have us at -95% versus -97% overall.

He also stated that we do have a relatively full schedule available for purchase further in the future (casting the wide net), but that cancelations inside (30?) days are much less efficient so we are prioritizing cash savings versus flying empty planes inside this window. They all sounded confident that we are winning this cash preservation / survival battle, and that it can be quickly reversed as demand recovers. This explanation encouraged me from the perspective of us opening more ground from the bear compared to our peers.