If you think pilots are PO’d right now, let’s see how everyone feels after October 13th. That’s when they release Q3 results and give an updated outlook for this year and next year.

I fully expect to see mid teens on the operating margin with about $1.5 billion profit. As capacity comes back to pre-pandemic levels, the operating costs will normalize and the margin will increase into the high teens.

I see $8 billion a real possibility in 2023.