For new guys who are thinking this is the apocalypse: September is always slower in this industry because it's a shoulder month for travel. What will be more telling is our flying in October and forward.

Ed Bastian of Delta just had a live interview with David Ignatius of the Washington Post this morning about the state of the airline industry. Among other things, Bastian mentioned that Delta doesn't forecast business travel returning until mid-year 2021. Granted, this is at an airline that has created a revenue premium around business travelers, while we chase bottom dollar, but it's not a good indicator for us either.