I think a key slide in there is that they consider employee utilization at 87% today along with a/c (87%) and they expect employee utilization to be 100+% in 2024 with aircraft at 100%. WTF are they expecting???

Also, they don't expect wages to increase appreciably until 2024...that's when they're target a new PWA for us I guess.

Final takeaway: meaningful profitability in 2022, and greatly exceeding 2019 profits in 2024. IDK what that means for 2023, just a huge WAG for now.