Some guys are really on the M&A train.

Even in the event of a true pilot shortage, I don’t see another airline wanting to buy our pilot group and pay top dollar after months and years of arbitration.

First they have to convince our shareholders to either sell cheap, or go Gordon Gecko style acquiring us. “Blue Horseshoe loves Ned’s Kids”

We have orders, ok so what, no one’s really hurting for planes. Not much else in terms of key assets.

If we get to 3500-4000 pilots, the majority of which will have been on property less than 5 years. You think if the writing is on the wall the majority of those , especially in the right seat, won’t bounce to legacy ASAP but rather stay and fight for the senior guys here to get integrated and protected?

If you are top 30-40% of seniority here, the thought of a merger should wake you up at night in a cold sweat.