I don't want to burst any of your bubbles but...

PNCL Corp owes 110 million note due Feb 2010. They are trying to figure out how to pay that to keep the airline going, let alone giving the union a big lump sum. They have been selling Colgan SAAB Engines to raise money.

You guys should be happy with a slighty higher than industry average contract. That is what Phildo is going to offer, but certainly no big financial obligations due in the near term. They just don't have the money.