Originally Posted by zoooropa

The "profits" from Sale Lease Back transactions are not part of the "net profit" number. The proceeds from any SLB are added to our balance sheet. If we show a "net profit" of $0 that $0 is not impacted in any way by sale lease backs. For example, in Q1 we took delivery of six planes and our cash balance sheet increased by $48 million but that $48 million is NOT baked into the net profit for the quarter. In other words, our "profitability" is based upon revenues (fare and non-fare) minus expenses/liabilities. It is a good thing that our cash on hand is increasing slightly each quarter but again we are not "surviving" on the proceeds from SLB's.